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New French Tax Laws Attract Wealthy British Expats
The British have always had an ongoing love affair with France, and many have relocated to villas in Provence, country cottages in Dordogne, or apartments in Paris to live the French lifestyle. However, with the French tax situation changing, the European destination is set to become even more popular.
 
French taxes increase appeal of property

Property in France is has just become more attractive to the wealthier class of foreign expats, thanks to the new proposals to change French taxes. President Nicolas Sarkozy has proposed the abolishment of the wealth tax in France, which currently charges between o.55% and 1.8% for any residents who own net assets worth over 790,000 Euros. For someone with a large net worth, even such a small percentage can add up to a lot of money paid every year, and so the abolishment of this tax can result in that person retaining a great deal of their assets.

Wealthy Expats benefit from taxation situation

Investing in real estate in France will now be of huge financial benefit for the wealthy British, as the country will have a much better tax situation for them. At the moment the wealthy in Britain now pay a higher rate of 50% on income tax. The UK is set to endure years of austerity and high taxation, and the future will bring a reduction in public services. Those who are of the wealthier class and who can afford to move are finding it smart to relocate to a country such as France with a better economic climate and tax situation. Rather than see half of their hard earned money disappear, many wealthy British are choosing to find the perfect France property and escape to a lifestyle where they can enjoy financial freedom, and all of the other advantages of living in France such as the rich history, delicious cuisine, abundant local culture, and proximity to the rest of Europe.

French property market booms as result

These upcoming tax changes will be a huge boost for the French property market, and will make property for sale in France more popular than ever. Taxes are always a consideration for buyers when researching properties, whether investing in a holiday home or moving there for the long term, and this situation will make properties in France stand out above other locations.

The low value of the pound is still an issue for those looking for France properties, however it is predicted to rise in the near future while will increase the potential standard of living for British expats living in France. The stronger the pound is against the Euro, the more comfortable of a lifestyle a British person will be able to live, whether they are living on their UK pension or they are an entrepreneur living on a UK based income.

Author Bio

For those looking to buy or sell property in France, the tax situation in France is only one of the reasons why it is a great country to live in.