Changing your future holiday plans?
One of the many impacts of the Covid-19 pandemic is that some people have been re-evaluating where and how they wish to spend their holidays, not just this year but in the future.
Buying or selling a property in France
Some of those with properties abroad are looking to sell their overseas holiday home and buy something in the UK. Others who are undeterred by Brexit may be looking to buy in France on the basis that they would now be more comfortable driving in their own car to their holiday than flying.
Things to consider
Whatever your next move, there will be financial and legal considerations to consider.
If you are buying or selling in France, you will need to think not just about the sale and purchase process (which is very different to the UK) and potential pitfalls but also about the implications for your UK Will and Inheritance Tax arrangements. If you are buying rather than selling, you should also be considering the need for a French Will.
If you are investing in or selling, a holiday property in either the UK or abroad, you need to make sure you have thought through the Capital Gains Tax implications. If not, you potentially risk an unexpected tax bill at some point in the future. If you are considering renting out a holiday property to other people for the first time to capitalise on the increased demand for UK holiday venues, then you also need to look at the Income Tax implications.
Speak to our French Legal specialists today
At Ashtons Legal we can help with all of this. With specialist French Legal Services, Tax and Trusts and Lifetime Planning teams, we have already helped many people to make their move to France or back, or to invest in additional properties in the UK, and ensure that they have all their affairs in order and no potentially nasty financial surprises round the corner.
You can contact our teams using our online enquiry form or by calling 0330 404 0749.
How can we help?
If you have an enquiry or you would like to find out more about our services, why not contact us?