DISCUSSIONS

Find the answers to many of your expat questions here

View Latest Posts

You're missing out...

As a member you can enjoy exclusive info and offers.

REGISTER NOW

capital gains-main house?

Posted by munchkin-191066 - Created: 14 years ago
0 0

hello...bought house in May 1999 and am now moving away. It's my main home and value has gone up considerably due to works I've carried out on it. I thought that since it was my main home I wouldn't have to pay plus value but one agent has told me that I will if I sell before 5 years of living in it (it's not a newly built house at all). Is this true?

thanks for any advice

Sorry no image available

4 replies (Showing replies: 1 to 4)

Sorry no image available
Posted by rosetta-185721 - 14 years ago

This is assuming that you're French resident, of course. If not, I believe it's 33% on profit made but you can reduce it if you can provide bills etc for work done on improvements. After 2 years it goes down by a few percent a year, so that after 22 years you don't pay capital gains if non resident. Had read somewhere that this was changing though.

rosetta

 

Sorry no image available
Posted by rosetta-185721 - 14 years ago

This is assuming that you're French resident, of course. If not, I believe it's 33% on profit made but you can reduce it if you can provide bills etc for work done on improvements. After 2 years it goes down by a few percent a year, so that after 22 years you don't pay capital gains if non resident. Had read somewhere that this was changing though.

rosetta

 

Sorry no image available
Posted by Shuba - 14 years ago

In your case there shouldn't be (It's only the case if you've build the house and been living in it for less than 5 years). Get confirmation from a notaire though.

Sorry no image available
Posted by secours-180503 - 14 years ago

Sorry, but that's wrong!!

There is nothing to pay if it was your principal home.

And You were living in it since you bought it.