Tax

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Ray B
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Tax

Post by Ray B » Thu 01 Jul 2010 15:10

How much can one earn on rentals before paying tax? Then what is the tax rate? Please.

Ray :shock:

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sue and paul
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Post by sue and paul » Thu 01 Jul 2010 15:45


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polremy
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Post by polremy » Thu 01 Jul 2010 16:53

I have a nasty feeling that you pay tax on everything you "earn" by renting out your property in France.
It doesn't work the same way as in England - there is no tax free allowance.
At least that's what I gathered from a conversation with friends who have no other income and are very disillusioned.
Sorry to be bearer of bad news.
Hope I may be proved wrong.

Fishing8
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Tax

Post by Fishing8 » Thu 01 Jul 2010 17:23

Just to add that if you are considered to be UK resident you get taxed in UK on worldwide income less credit for foreign tax paid.

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mand
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Post by mand » Thu 01 Jul 2010 17:37

I'll ask oh when he comes home, we rent out but being a typical woman i leave all the boring stuff like tax to him...i know we pay tax on our rental income but not sure if there is a threshold level at which you start paying, I do know that we let furnished because we get some relief for furnished it used to be 70% but they cut it this year to 50% but oh said we were still better off letting furnished

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blackduff
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Re: Tax

Post by blackduff » Thu 01 Jul 2010 17:57

Fishing8 wrote:Just to add that if you are considered to be UK resident you get taxed in UK on worldwide income less credit for foreign tax paid.
Maybe you will pay in the UK but you should be paying tax on your rentals in France. The French want the taxes for earnings in their country.

If you do rent this"black", then you can be caught or if something goes wrong, how do you tell the local authorities. Rememeber you will have to pay "Tax de Sejour" for each person/per day so this will be a way for the authorities to see it's earnings. If you don't pay the tax de sejour, your neighbors can call the locals again, since you're competing with them on the same terrain.

It's a slippery slope dodging the tax people in France.

Blackduff
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Robert Ferrieux
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Post by Robert Ferrieux » Fri 02 Jul 2010 00:15

I would have thought it's a slippery slope trying to dodge the tax people anywhere !! :(

Helen

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