Any gite-income-tax experts out there?
Feb 27th 2006, 8:11 am
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Joined: Jan 2006
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Any gite-income-tax experts out there?
Hello all,
Can anyone in the know advise me about their experience of tax in France? I'm doing up a property to convert two buildings into 4 gites and expect it to take a year for one building to be ready, then a further 6 months for the others: when we'll have to start paying business taxes? I've heard stories about people being taxed on their business even before it's properly started, is there any truth in this?
My other question is will our gite business be classed as a proper commercial business? The information I've read varies, but it seems like one or two gites are waived for tax, whereas three or more aren't... can anyone shed any light on this? We're trying to make some decisions for the long term on the most cost effective way of earning a living out of our property.
ANY info would be very gratefully received.
Polly
Can anyone in the know advise me about their experience of tax in France? I'm doing up a property to convert two buildings into 4 gites and expect it to take a year for one building to be ready, then a further 6 months for the others: when we'll have to start paying business taxes? I've heard stories about people being taxed on their business even before it's properly started, is there any truth in this?
My other question is will our gite business be classed as a proper commercial business? The information I've read varies, but it seems like one or two gites are waived for tax, whereas three or more aren't... can anyone shed any light on this? We're trying to make some decisions for the long term on the most cost effective way of earning a living out of our property.
ANY info would be very gratefully received.
Polly
