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Everything you always wanted to know about France - from France |
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France - Make your dream come true.
CAPITAL GAINS TAX ('Impôts sur la Plus Value') based at 26 % which is applicable to a French resident on a second home. This calculator will help you estimate the Capital Gains Tax which you can expect to pay on selling a property in France if you are a French resident and you are selling a second home. If the home is your main residence at the time of sale, you are exempt from this tax. The calculator is designed to allow you to make an estimate of this cost. The actual figure you pay may well vary slightly from our estimate due to variations in the use of the various allowances which are available to you. You should therefore confirm this figure with the Notaire before committing to the sale of your property. The Notaire will deduct the amount of the tax from the sale proceeds. The major issues taken into account when calculating this tax are: 1. The sale price. Allowance can be made of a limited number of selling expenses, the most usual being our commission. 2. The length of time for which you have owned the property. The Capital Gain is reduced by 10% per year starting in the sixth year of ownership. Thus after 15 years of ownership, no Capital Gains Tax is due. 3. The original purchase price. This cost can be increased by allowable costs such as purchase expenses and renovation costs. There is a standard allowance for each of these which we have used in our calculator. Other Useful CalculatorsCapital Gains tax Calculator, EEC Resident Capital Gains tax Calculator, Non EEC Resident Notaire's Fees and taxes Calculator Mortgage Calculator Calculator of Accommodation Cost Comparisons There are over 2,000 features and articles on this site about French life and living in France. Do browse through our website and please use the advertising links, they help pay for the site. I do try to reply to all mail - Contact Me - most is about property or living in France. I publish comments in this newsletter which I believe are of interest and may help find answers for people wanting to come to France. I hope readers will go to the adverts which help support our overheads. |
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