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How can renovations on French second home reduce capital gains tax?
Reductions related to length of ownership start after five years
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Many small firms and self-employed in France soon obliged to issue digital invoices
One small business group has called for more support for the extra costs
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Millions of taxpayers in France will soon need to supply extra information
Returns made this spring will ‘step up’ the information requested about regular at-home help
Taxation on rental income
Reader's query on taxation on their rental income.
I have been told if I let my only home in France and rent in the UK I will not be taxed on the rental income in either France or the UK. Is this true? R.F.
No, it is not true. If you let your home in France, the income will be liable to taxation since all income is liable to taxation with minor exceptions such as certain French tax-free bank account interest]. If you rent a property in the UK because you have nowhere else to live, then you will be a UK tax resident, and the income from the above let will be taxed first in France, and then in the UK with a tax credit for the tax paid in France.
Reader's query answered by Hugh MacDonald
If you have a money query send it to news@connexionfrance.com We select questions for answer every edition
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