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services list

  • Business registration
  • Accounts preparation
  • T.V.A. registration and returns
  • Capital Gains Tax calculations
  • Business Planning
  • Dual Taxation planning
  • Leaseback returns
  • U K Accounts and Tax returns

 



My Gite's make a loss - can I claim back these losses?

Rental income can be declared in two main ways - if you opt for the simpler system you will pay tax based upon your turnover less a set allowance for expenses. If you elect the "full" declaration you can claim losses to be rolled forward or offset against other french income

What paperwork do I need to keep?

No great surprises here - you should keep a record of all investment interest, rental income received and expenses incurred, sales income and expenditure together with bank statements - & in france the tax year "matches" the calendar year.

How do I pay any tax owing?

You will receive a bill after your return is accepted and you can pay by cheque or on line.

How about National Insurance?

French N. I. or social charges are very high and are chargeable on most of your income but only if you are resident in France

France also has a "wealth Tax" - the "Impôt de solidarité sur la fortune (ISF)" which is payable on the value of French residents assets if they exceed €800,000

There are a number of concessions granted such as a 30% discount on the value of your main property and, for the first five years, you will only be taxed on the value of your assets in France rather than worldwide.

The tax is payable on net assets (i. e. loans and mortgages can be deducted from the balance and annual declarations are made with payments due in June of each year.

It is worth a discussion if you feel that you may be liable for this form of taxation!