For those of you contemplating the purchase of a second
home in France, or a complete move, the advantages from a
tax perspective still represent fantastic value
In essence, as an individual in the UK you
would pay
40% tax above the £43,300
threshold. Even as an individual
in France you wouldn't reach
this height until above €70,000.
So even higher earners can pay
less tax.
PLAN AHEAD
You shouldn't just research the
area or house you want to buy;
you should also have a clear
idea of how much income you
need to live on in France, and
how much of it will be taxed.
T
HERE ARE ALWAYS
scaremongering
stories about tax in
France. But if you're
planning to move here
as a retiree or early retiree and
already have some (or all) of
your income stream planned,
then you could well be surprised.
For example: if you're
married, you are taxed as a
household and will have two
tax free allowances added
together before income tax becomes
payable. This is certainly
handy if, like most people, one
of you has a higher income than
the other. All pensions receive
an abattement or allowance of
10% before tax is payable - every little helps! The income
tax
brackets are 0/14/30/41/45%
as opposed to 0/20/40% for
the UK.
WORDS: JENNIE POATE PHOTOS: DEPOSITPHOTOS
28 leggettfrance.com
EXPERT ADVICE LEGGETT MAGAZINE
FRANCE:
still good value
Jennie Poate is Head of
Operations, France for
Beacon Global Wealth
Management