Capital Gains Tax on Property

A vendor will only be liable for capital gains tax (plus-values immobilières) on the sale of their property if it is not their main residence, and they have made a profit, or capital gain.

The rate payable is total of 34.5%, which is made up of 19% capital gains tax (plus-values immobilières), plus 15.5% social charges (prélèvements sociaux).

There are exemptions and allowances that apply, and some costs that are deductible, such as improvements to a property by registered artisans. It is worth noting that maintenance works carried out at a property would not be deductible.

The relevant expert for capital gains tax is the local notaire, as they work closely with the local tax office, and it is the notaire who calculates the amount of capital gains tax to pay, if any, based on the circumstances of the vendor, and the invoices (factures) submitted by the vendor.

There are many free capital gains tax simulators available on the internet, including one on the Notaires de France website.

A more detailed explanation of capital gains tax ( in French) is available on the same website.

 

Information Provided By:

Bel Air Homes

Tel: 02 97 27 01 71

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