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  1. #1

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    British expats among those benefiting as Macron slashes French wealth tax

    While Britons at home fear a swathe of tax increases in Philip Hammond’s November budget, many expats in France stand to benefit from the opposite – a significant tax cut.

    On Tuesday President Emmanuel Macron’s reforms of France’s notorious wealth tax – the impôt de solidarité sur la fortune or ISF – passed into law, effective from January 1, 2018.

    The tax as it stands involves a yearly percentage levy (of up to 1.5pc) on the wealth of residents whose global worth exceeds €1.3m (£1.15m).

    Aside from various complex exemptions and caps, the tax is currently applied to property and financial assets worldwide. It is said to have prompted the exodus of 60,000 millionaires from France since 2000, many moving to Britain and Belgium. They may now return, tax experts predict.

    Mr Macron’s reforms leave the rates and thresholds unchanged but the tax will now apply almost exclusively to French residents’ worldwide property only.

    Careful use of mortgages alongside non-property investments could all but eliminate liabilities, tax planners say, and the extent of the cut is apparent in the fact that the French authorities anticipate a 70pc drop in revenues.

    Estate agents are already talking of increased interest from those wishing to relocate.

    Tim Swannie of Home Hunts, which sells French homes averaging €2m mainly to people in Britain, said demand at the higher end of the market was already strong, particularly in locations such as Paris, the Riviera, Bordeaux, and Provence - but that the tax announcement of the tax reduction has brought a surge of new interest.

    "Inquiries for properties over €2.5m are at the highest level for 10 years," he said. "The tax changes are having a big effect. We are seeing more people wanting to relocate.”

    British expats among those benefiting as Macron slashes French wealth tax

    Vive la France!

  2. #2

    Better than AtW

    sasguru - scorchio!


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    Atw, also look at Portugal for very good tax deals: AFAIK 10 years tax free for businesses who relocate
    Mainly because of this , Lisbon has been transformed within 10 years - place is buzzing now.
    Sadly property is not the bargain it once was, but still compares well with other European cities.
    Hard Brexit now!
    #prayfornodeal

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    First response to "Not a Brexit thread", clearly people luuurve Brexit threads

    If I have to feck off, I'll feck off somewhere in EU for sure. Probably to Bavaria

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    Quote Originally Posted by AtW View Post
    First response to "Not a Brexit thread", clearly people luuurve Brexit threads

    If I have to feck off, I'll feck off somewhere in EU for sure. Probably to Bavaria
    You'll need to trade in your Merc for a BMW...
    His heart is in the right place - shame we can't say the same about his brain...

  5. #5

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    Quote Originally Posted by Mordac View Post
    You'll need to trade in your Merc for a Porsche...
    FTFY

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    Quote Originally Posted by AtW View Post
    If I have to feck off, I'll feck off somewhere in EU for sure. Probably to Bavaria

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    Quote Originally Posted by AtW View Post
    FTFY
    You're really not bothered about "fitting in" over there, are you...?
    His heart is in the right place - shame we can't say the same about his brain...

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    Quote Originally Posted by Mordac View Post
    You're really not bothered about "fitting in" over there, are you...?
    You are quite right, I'll drive a Rover instead

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    Quote Originally Posted by AtW View Post
    If I have to feck off, I'll feck off somewhere in EU for sure. Probably to Bavaria
    From a Brum bedsit to this.. this time next year Rodders

    How fortunate for governments that the people they administer don't think

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    greenlake has reached the peak. Play again?

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    Quote Originally Posted by Troll View Post
    From a Brum bedsit to this.. this time next year Rodders

    FTFY.

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