EU referendum: What will Brexit mean for 2m Britons who are tax residents abroad
Should Britain choose to leave the European Union (EU), British citizens owning houses in France could end up paying an extra 10% in tax should they decide to sell their properties.
EU citizens wishing to buy or sell a property in France face a 39.5% tax. Aspiring buyers have to first pay the tax in France, which can then be offset when it comes to paying taxes in their native countries, as long as it is part of the 28-country bloc.
The tax comprises capital gains tax of 19%, a surcharge of up to 6% and social charges of up to 15.5%, equating to a maximum of 36.5%. The French capital gains tax and surcharge paid can then be offset against the tax due in the UK at up to 28%, while French social charges cannot be offset, meaning up to an extra 3% worth of tax is payable in t...
