|
Gifting part of your estate to your children is an excellent method for reducing the value of your estate for inheritance tax purposes. Yet the conflict of English and French laws and taxes can result in highly disadvantageous situations.
The UK rules relating to taxation of gifts has been tightened substantially over the past few years and even if a French property is gifted these rules can apply. It follows that a common form of property gifting - by transferring the reversionary interest (nue-propriété) and retaining a life interest (usufruit) may result in a potential double imposition of tax.
This may not always be the case but overall careful consideration must be given to ensure that the correct arrangements are made.
Another point is that gifts are strictly limited in France, as they should not affect the strict rights of inheritance that children and certain other people may have.
Ashton KCJ French Property lawyers can assist in the following areas:
Our experienced french property lawyers can help you work through the process of buying or selling a property in France. If you would like to speak to someone please send us your details by completing our contact form and either Matthew Cameron or one of the team will call you back. Alternatively you can call the team on our dedicated 0800 917 0291 number.
Contact a member of our experienced french propery law team
Alternatively email: france@ashtonkcj.co.uk
Or call today on:
0800 917 0291 from the UK
00 44 (0) 1284 727116 from outside the UK
You may also be interested in:
|
