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Selling property in UK (resident in France)

Selling property in UK (resident in France)

Old Jan 14th 2020, 5:07 pm
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Default Selling property in UK (resident in France)

Does anyone have experience of selling a property in the UK while being resident in France? I am looking for guidance regarding capital gains tax declarations in UK and France. I think I may need a tax adviser. Thank you in advance for your help and recommendations, Jayne
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Old Jan 14th 2020, 7:06 pm
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Default Re: Selling property in UK (resident in France)

Hi
Welcome to the forum.
How long have you been resident in France?
Which home is your main residence?
Has the UK home been rented out during any period?
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Old Jan 14th 2020, 7:27 pm
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Default Re: Selling property in UK (resident in France)

Hi Cyrian,
Thanks for your response.
I've been resident in France since 1977.
I acquired the house in the UK in 2009, and it has been rented out from that time and up until August of last year.
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Old Jan 14th 2020, 8:11 pm
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Default Re: Selling property in UK (resident in France)

I would ask at your French tax office about the French side of things.
If you're lucky they'll know how the whole thing works.
If not you will have to find out the UK side from HMRC or from the tax treaty.
I don't think there is much room for manoeuvre so a tax advisor probably can't save you any money, and personally and I wouldn't pay a tax advisor just to tell you the rules, when these are all in the public domain.
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Old Jan 15th 2020, 8:29 am
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Default Re: Selling property in UK (resident in France)

Hi
You have run the property as a business since 2009.
You are non-resident for tax in the UK and therefore you do not have the UK tax-free allowance for Capital Gains (CGT).
You will pay CGT on the "gain" (plus value) less expenses in the UK on the sale.
A UK solicitor will advise on the tax you will pay.
You then need to declare the "gain" and the UK tax paid on your French tax return.
You will not pay tax twice but you may pay social charges.
Read this:

UK France CGT
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Old Jan 16th 2020, 9:51 pm
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Default Re: Selling property in UK (resident in France)

Many thanks for your response, EuroTrash. French tax office sounds like a good place to start!
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Old Jan 16th 2020, 9:52 pm
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Default Re: Selling property in UK (resident in France)

This is most helpful, Cyrian. Thank you very much!
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Old Jan 17th 2020, 5:06 am
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Default Re: Selling property in UK (resident in France)

Hello

Check with HMRC but I think non-residents are liable to CGT only on any gains made after 6 April 2015. Not quite sure how you go about ascertaining the value of the property at that date.
https://www.expertsforexpats.com/exp...ritish-expats/


As regards the French side of things, Connexion magazine probably has articles on this subject. They also do special issues on specific topics.
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Old Jan 17th 2020, 8:34 am
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Default Re: Selling property in UK (resident in France)

Originally Posted by Helen1964 View Post
Hello

Check with HMRC but I think non-residents are liable to CGT only on any gains made after 6 April 2015. Not quite sure how you go about ascertaining the value of the property at that date.
https://www.expertsforexpats.com/exp...ritish-expats/


As regards the French side of things, Connexion magazine probably has articles on this subject. They also do special issues on specific topics.
UK solicitors use valuation tables to estimate the value of properties between purchase date and sale for calculating CGT.
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Old Jan 17th 2020, 8:47 pm
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Default Re: Selling property in UK (resident in France)

Thank you Helen and Cyrian,
Yes, I saw that.
I went into ZOOPLA (House prices) and got the current average price for properties in my road (where the houses are all the same!),
together with the percentage value change since 2015. With that I was able to calculate the price in 2015.
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