Category Archives: Captial Gains Tax

Budget 2012 Update (3)

With regard to the proposed changes to CGT and a potential annual ‘wealth tax’ on UK property held by offshore companies I apologise for the solution taking a little longer however we do have a 2 different solutions that should get round these new proposed taxes and we will roll these out once we have draft legislation which is not likely to be until November this year at the earliest.

TAX ALERT: Regarding the possible French tax reform on wealth and capital for individuals

This is very relevant to anyone who owns French property. In summary:

1: France does not recognise trusts at all and taxes them punitively

2: Non-residents owning French property could be taxed 20% per annum if the property is not rented out

3: Capital Gains Tax may be withheld in France on the sale of properties or investments