The French tax system will probably seem a little strange to you at first. For example, income is assessed by household, rather than for each individual person.
In fact, there are many tax advantages to living in France – and we can help you make the most of these. With careful planning, many people are better off in the French system.
We’re experts in all aspects of income, capital gains and inheritance taxes – and we understand the double taxation agreements which override French laws. They’ve been developed to help you avoid paying tax on the same things in both the UK and France, but finding out what tax relief is available in each situation is a complicated business. This is an area where you definitely need specialist advice, which Siddalls is well placed to provide.
You’re also likely to need help dealing with France’s wealth tax. It’s an annual tax you have to pay if your worldwide assets are worth more than €750,000 (around £500,000). As this includes your property, savings and investments, many people moving to France are liable. We don’t have this kind of tax in the UK, so you may find it difficult to accept at first – but, as with other taxes, expert advice can help minimise the amount you have to pay.