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Notes on Residence and Tax
Most purchasers will prefer to retain their "Main tax residence" in the UK to ensure that their tax status is not affected.
A French property will normally be part of an UK resident's estate under English law, but (unlike stocks and shares), being fixed to French soil, it is also liable to French inheritance law. This can be avoided by setting up a company to purchase the house. Obviously this will require the help of a financial specialist. France and the United Kindom have double tax agreements which should ensure that you obtain relief for tax paid in France.
A UK purchaser will always be liable to local taxes which include :
- Impots Locaux (Council Tax)
- Impots Fonciers (land and building taxes)
The notaire will advise the purchaser of the annual amounts of these taxes.
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