As a result of Brexit, the United Kingdom is no longer a member of the European Union, meaning that UK tax residents will no longer benefit from the status of EU citizens. This will mean that UK tax residents who now sell property in France will be subject to the following two points:

Firstly, the tax rate at which French CGT (plus value) will be applied on any profit made is now higher than before. As is the case with other non-EU countries (pays tiers) the CGT rate will increase to 36.2% (made up of 19% in income tax and 17.2% for French social charges).
Exemptions are allowable, such as the number of years of ownership.
Note that the additional French tax of 2 – 6 % on any “profit” greater than 50 000€ will no doubt still apply.

Secondly, for any sale where the seller receives over 150 000€, a fiscal representative will need to be appointed.  This is obligatory even if there is no CGT to pay. This is a direct cost to the seller (typically 1% of the sale price) which can be offset if there is CGT to pay.

ICE Finance is registered as an accredited specialised company able to work in conjunction with your Notaire in order to meet your legal tax obligations with regards to the French Tax Office.

Please contact us for more information.