howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
courtesy of the telegraph
Approximately 200,000 Britons own second homes in areas such as the Dordogne and other parts of France, particularly those serviced by budget airlines.
Now, however, holiday home owners find themselves in the sights of President François Hollande as he seeks to tax the better-off to reduce France's large budget deficit.
On Wednesday (July 4th), the French government announced it was to increase taxes on foreign-owned second homes. Tax on rental income would rise from 20 per cent to 35.5 per cent, and capital gains tax on property sales would rise from 19 per cent to 34.5 per cent. The extra in each case is being labelled a "social charge".
A Treasury source said on Wednesday night: "We will need to study the details. But we will of course challenge any proposal which breaches European single market laws and anti-discrimination rules."
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
Careful...don't antagonise Le Presedente into upping his country's income from the energy companies the French State part-owns.
Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
This sounds a bit tough alright, big increses there, but it is after all the actions of a new socialist president who came to power promising to up the taxes on the better off, with huge increases promised to even a staggering 75% to the mega rich. He is just delivering on those promises, delivering what it says in his manifesto. The people voted for this and they are getting what they voted for. This of course wont affect Brits living there full time.
I wonder if there is a way round this by declaring the house in France your full time home and decreeing the residence here in the UK as the actual holiday home...although I suspect thats too simplistic to work. They would see that one coming, although there may be a possible loophole.
Guest 683- Registered: 11 Feb 2009
- Posts: 1,052
Paul
you are beginning to sound like a seasoned politician!
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
I know...lol!!
it took years of seasoning to get where I am today..
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
i don't think mr hollande needs much encouragement tom, he raised tax rates for the better off earlier in the week.
watch the influx of french nationals seeking the top tax rate applied by dave, george and barry.
i would imagine many of the 200,000 uk nationals witrh french holiday homes will be looking to sell up but who would now buy?
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
One of the most irritating things of all for rural communities is to have the wealthy coming in and buying up village properties, and using these properties for 2 or 3 weeks of the year. It kills community life completely and prices local homes way out of local pockets. Youngsters cannot get on the property ladder. We have seen much anger on this in recent times, in Devon for example and elsewhere in the west country, there was even much of it in Ireland a while back and Wales even had an active militant group attacking such homes.
No doubt France suffers the same blight.
So I imagine this tax is not just about raising money, after all it wouldnt raise that much, but takes a more social view to give local people a chance.
But lets not forget, people with second homes are generally well off and need to pay a bit more. However...when you get round to actually raising more tax from the well- to -do you realise that real people are involved. But....
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
Many such persons who own second homes, here or abroad, are Telegraph readers...so there is plenty reason to strike fear, kick-up a fuss and increase sales.
Howard, you're not with EDF then?
Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
no tom i am with brutish gas just as nasty, but patriotism won the day.
Guest 744- Registered: 20 Mar 2012
- Posts: 412
I once worked with a "Telegraph reader". She was the most bolshie, up the workers leftie I have ever met and she most certainly did not own a second home.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
Ahhhhhh, but you and Ian do, Carole.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 744- Registered: 20 Mar 2012
- Posts: 412
And your point is??
Guest 698- Registered: 28 May 2010
- Posts: 8,664
Well....... Nothing really. But as long as you don't rent it out or sell it you won't get hit for the new tax. I don't think this move is anti-British, there are plenty of Dutch, Germans and Swiss with French property.
For the record, I read the Telegraph. And we sold our house in Provence many years ago.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 656- Registered: 13 Mar 2008
- Posts: 2,262
Well there goes my holiday home in France and just when I was thinking of a buying a nice house in the woods of Le Touquet, shure I'm only dreaming, just as well
Judith Roberts- Registered: 15 May 2012
- Posts: 637
Oh yes Colette, I would love a holiday home in Le Touquet too. I used to take Townsend Thoresen Day trips there many years ago and fell in love with the area.
Guest 745- Registered: 27 Mar 2012
- Posts: 3,370
Theirs a profit tax to ,
On say £200000 you will pay £33000
And I am pretty sure that the companies that up sticks there offices, for tax reasons will be punished in some other way.
This is a socialist government not a labour one.
