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New UK treasury reforms could see retirees who live and own property abroad able to spend up to a third of their time back home each year without paying any tax.
Overseas investors owning a holiday home in France can breathe a sigh of relief, as the French president has dropped his unpopular plan to hit foreign property owners with a third tax on their homes.
The proposed new property tax for holiday homeowners in France may hit the rich but others may not feel the effect quite so much, according to French property experts.
Despite the recent introduction of the 20% tax on second homes in France, those property owners who decide to live and work in the country can still benefit from a world of tax advantages, as a recent investigation from the Daily Telegraph concludes.
Around 200,000 Britons who have holiday homes in France could be charged a new tax, adding thousands to their bills.
The French government is seeking to impose a new 20% tax on non-resident second home owners, but buyers of properties under the leaseback scheme will be able to avoid it, according to legal experts.
PARIS : France is to hit non-resident owners of 360,000 second homes - many of them British or Dutch - with a new tax equal to 20 percent of the properties' rental value, under a draft law unveiled on Wednesday.
Earlier this week, French minister Francois Baron said that the French government aims to raise the threshold for households that have to pay wealth tax (ISF).
New Years Eve is inevitably a bit of a let down - nothing ever seems to quite match up to that glittering sense of anticipation - and this coming one seems to signal a longer hangover for the UK property market as, from 1st January 2010, all those with investment funds in the Channel Islands, Isle of Man and British Virgin Islands will be able to invest in French property free of the annual three per cent tax on their open market value - meaning that funds that would have boosted the UK property market may be taken to France instead...
Residents of the Channel Islands just off the French coast who have invested in property in France could benefit from the recent Tax Information Exchange Agreement with the French Government...
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