English
FrançaisHello
Myself and 2 friends bought an apartment in Les Chalets de Wengen,Les
Coches, France from La Grange developments.
The income I receive from the property totals approx €2461.00 per year.
I returned my tax forms last year and have been informed that I have to
pay 20% equating to €492.00.
Is there a tax free threshold on income for French non residents?
I did not expect to have to pay any tax on such a small amount of income.
Has anyone got any advice?
Cheers
Phil
Comments
davey1
tax on french income
22 January 2010Dear Phil,
I am not sure how you completed your tax returns, but it would appear that you have indicated to the French tax office that the 2461 Euros was profit and as such it has been taxed at 20%.
I can recommend a good accountant if you want to send me a message directly.
Davey
PP501
tax on french income
22 January 2010I have had my leaseback just one year and am due to complete the tax return soon. Will I be taxed on the income receievd minus the mortgage costs and minus any one-off kitting out costs (equipment) ?
What rate is the tax ?
davey1
tax on french income
25 January 2010Dear PP501,
The rate of incoem tax for a non resident is 20%. Whether or not these items are taken off your income will depend on how your property has been registered and how you fill in the French tax forms.
Davey
Phil Groom
tax on french income
25 January 2010Hi Davey
I am going to contact the accountant you recommended.
I would like to let them know where I got the referral from.
What name should I give them?
My rental income is from a leaseback property which we have received
income from for the past 2 years. It is furnished and managed by Soderev
,La Grange.
I used an accountant last year but they were expensive and non English
speaking.
We did not pay any tax last year so I guess they knew what they were
doing. I thought I would fill the forms out myself this year to save money
however this plan seems to have backfired!!
Thanks for the advice
Cheers
Phil
I would like to talk directly if possible.
My e mail is philandsian@tiscali.co.uk 07967 018286
strider
tax on french income
9 March 2010To my understanding, it is possible to reduce taxable income (rent - interest - fonciere - accountant) by
1. writing off notaire/mortgage arrangement fees over first 5 years. Any negative taxable income can be carried to next year.
and
2. taking into consideration depreciation of furniture and building over 10 years.
Is this still correct?
I was given a spreadsheet some years ago by an agent which gave an example of this but I imagine things have changed since.
BTW The example showed no tax was due for about 20 years!
strider40246.8849074074worried
tax on french income
6 April 2010I am going to attempt to complete my own tax return this year based on the return that my accountant completed last year. Does anyone else complete their own tax returns or do I need to use an accountant? I basically refuse to spend more on getting someone to complete the form than the amount of tax that I have to pay!
Dundee
tax on french income
6 April 2010I have used Grant Thornton (not for 2009 as I had no income!) and they charge around 600 euros which I would rather have but I was also worried about being "penny wise, pound foolish" so when I do fill out a return, I will use them again. Found them very helpful and English speaking.
JuanAzur
tax on french income
6 April 2010This is way too expensive, use Bertrand here from C'est la Vie, his rate is much more competitive
Opus
tax on french income
28 June 2010I used www.ptireturns.com who filed last years return for E350. No problems and everything in English so happy days. All I need now is the property to yield the 4.3% I was promised...