We have mentioned changes to French taxes which may affect UK resident owners of holiday homes in France in previous editions. They introduced social taxes on rental income, and extended capital gains to non-resident individuals, coming into force on 18th August. Deadlines approach on 30th September, 15th November and 31st December.
The new deadline on 15th November is for payment by non-French tax residents of the “exceptional” Wealth Tax introduced on assets held on 1 January 2012, for those already liable to pay that tax.
A reporting deadline of 31st December 2012 was announced on 15 September for Trusts with settlors, beneficiaries or assets situated in France, for purposes of Wealth tax assessment.
More changes are threatened for 2013.