Thursday, July 5, 2012

Increase in tax of foreign-owned second homes…. Spain next?

Francois Hollande announces French tax grab on holiday homes

British owners of holiday homes in France are to be hit with punitive tax rises under plans announced by the new Socialist government. EU when you feel like it....

Posted by tom101 @ 08:56 AM (1896 views)
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5 thoughts on “Increase in tax of foreign-owned second homes…. Spain next?

  • voiceofreason says:

    Imagine if the UK did that – all those foreign owned London homes would net us a bleedin fortune !!

    Quote:
    “On Wednesday (July 4th), the French government announced it was to increase taxes on foreign-owned second homes. Tax on rental income would rise from 20 per cent to 35.5 per cent, and capital gains tax on property sales would rise from 19 per cent to 34.5 per cent. The extra in each case is being labelled a “social charge”. “

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  • orcusmaximus says:

    Can’t see that happening here. It would reduce the price of all our MPs’ second homes.

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  • stillthinking says:

    Why are the UK government challenging French property taxes? They can do what they want.

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  • orcusmaximus says:

    They can’t if it breaks EU discrimination laws.

    But the real reason, is that if the French get away with it, there will be a big outcry to do the same here, which will penalise foreign workers from coming over here, reduce immigration, and reduce the price of MPs second homes.

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  • mark wadsworth says:

    Hooray for France. It’s a pity that he wants to increase income tax to 75% (which will have very bad impact on tax revenues) and do this (which will have very positive impact on tax revenues) at the same time. The whole thing might be a break even, so nobody will ever be able to agree which was the clever move and which was the stupid one.

    According to the Daily Mail, this “punitive” extra tax will be a pittance, like £1,000 a year or something. If you can afford a holiday home in France but you can’t afford £1,000 a year then serves you right. It’s like buying a Ferrari and then realising you can’t afford the insurance and road tax.

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