RECENTLY the Mail on Sunday highlighted changes to the conveyancing process in France that will allow UK solicitors to handle the entire process.
An EU ruling means the monopoly position enjoyed by French notaires has been broken and should see fees fall.
Although the majority of monies collected by notaires are government taxes, their own fees are around one per cent.
David Anderson, of Anderson Sykes, claimed the new rules would see greater competition.
Comments
3 responses to “Conveyancing changes”
Hi Craig,
A belated Happy New Year to you!
Firstly, the Sunday Times ran an article this weekend (15/1) about French Wealth Tax. I think I grasped what they were saying and that this only kicks in with properties of 750,000euros+, but just to check, are you aware of any changes that affect ‘Mr Average’ who has a house in France?
Secondly, I may have said this before, but I just love your site and the service that comes from it. Thanks! How on earth do you manage to keep it going?
Best wishes,
Mel
Dear Mel,
French wealth tax, currently known as ISF is due from all persons who are French residents on the basis of their worldwide assets.
For non-residents, the basis is only calculated on property held in France (and generally no other assets and income).
The tax is not due if your assets are worth less than 732,000 €.
I have read this article in the Sunday Times and in my opinion it is confusing and unnecessarily alarmist.
The majority of British people, whether resident or non-resident in France (but owning a property in France), will not be affected by this tax.
You can contact me if you need any further information (click on my name).
Regards
Thanks Guillaume for explaining how French wealth tax works.
I found the article in The Sunday Times, please see:
http://www.timesonline.co.uk/article/0,,2087-1985882_2,00.html
It does appear a little over top.
And thanks Mel for your kind words about the site, all I ask is that you tell a friend about This French Life.
Regards
Craig