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Gite income and taxation

Posted by kirstya - Created: 16 years ago
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2 replies (Showing replies: 1 to 2)

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Posted by kirstya - 16 years ago

Hello Riffa,

Thanks very much for the advice and help


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Posted by riffa - 16 years ago

There was an article about this in one of the English language papers down here, The Connexion.  My understanding is that you must declare and pay tax in France on any profit - but there are probably some expenses against which you can claim deductions depending on how you have financed your property etc.

I think the rate of French tax for this is 25%.

For sure you must also declare in the UK.  I understand that they will not require you to pay any tax already owed/paid (well, probably you will have to prove it has been paid in France not to pay in the UK!), but if you are a 40% tax payer in the UK then I guess you will have to pay the additional 15% over and above what you have paid in France.

But I'm no expert.  You should take advice.  The guy who wrote the article maybe?