Blevins Franks has been providing specialist financial advice to British expatriates across Europe for over forty years. The new EU Regulation will bring legal certainty to this issue.experts in obtaining competitive French , Spanish mortgage interest rates and optimise tax efficiency during French property ownership.The Tax Advantages of a French mortgage when purchasing a French holiday LetTo help citizens become better informed about these laws, the Council of Notaries of the EU has created a website (www.successions-europe.eu), with the support of the European Commission, in 22 EU languages plus Croatian. Dermot Callinan, head of the private client practice at KPMG, the accountant, said: "These are significant changes and Britons with property in France should look at them carefully to see how they are affected."
You need to understand all the implications for you and your heirs. There are tools available to help with estate planning in France, but you to ensure that the arrangements you use achieve the results you are looking for. Changes to inheritance laws for French property owners By nadia, on 23rd January 2014 For anyone already owning or looking to buy property in France in the next year, there are some interesting and hopefully advantageous changes coming into operation in 2015 which will change the laws that govern current French inheritance applying to foreign home owners in France. Changes to inheritance laws affecting Britons and other non-French EU nationals Saturday, 30 September, 2017 The European parliament has progressed with a proposal which allows expatriates in France to dictate in a will that they want the law of the state of their nationality to apply to their estate and not French inheritance law.
Our expertise covers tax, estate planning, pensions and investment management to offer a genuinely holistic approach to financial planning.Brussels IV may therefore not be the panacea for estate planning in France. More frequently than not, when an SCI sells its property, once the French CGT (Plus-Values) has been paid, the residual sales proceeds tend to be paid into theRecent Successful Appeals for the recovery of Prelevements SociauxTax conventions between France and the UK determine the residence and domicile of the individual as well as the different categorisation of income for taxCapital Gains Tax the rules and rates that apply on the sale of a French propertyEuro zone bank-to-bank (Euribor) lending rates are historically lowThe European parliament has progressed with a proposal which allows expatriates in France to dictate in a will that they want the law of the state of their nationality to apply to their estate and not French inheritance law. In the UK, you are generally free to leave your assets to whomever you wish when you die (Scotland and Northern Ireland law do have some restrictions), as stated in your will. Changes to the French wealth tax will force France's 360,000 non-resident property owners to pay more tax from January 2012.
For example, if a German citizen with a house in southern France dies, would French or German succession law apply to his property? Legislation governing jurisdiction and the law applicable vary considerably from one Member State to another.
Linda Mckay replies: Changes to inheritance laws affecting Britons and other non-French EU nationals has just changed.
However, since 2015 EU Regulation 650/2012, also known as ‘Brussels IV’ allows forced heirship Inheritance tax will continue to be levied on transfers of worldwide assets by those domiciled in the UK and transfers of UK assets by non-domiciled people. The UK’s withdrawal from the UK does not change any existing UK rules for inheritance tax. So if you opt for UK succession law to apply to your estate, then your assets could be liable to UK tax as well as French tax.
Wills made under UK law remain valid and property abroad continues to be subject to local rules. When UK nationals buy property in France and/or move to live there, one significant difference between the UK and France that they need to be aware of is the French succession (inheritance) law.
For example, under French law you cannot simply leave all your assets (including the family home) to your spouse when you die, a set proportion must be inherited by your children.