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Furnished rental is interesting from a tax point of view, because it depends on the BIC tax system (traders) and not on land income (that of bare rental). It allows at least to benefit from a 50% deduction (with the Micro BIC system, accessible by right), or even to access a more lenient tax system (with the BIC system of simplified real income, accessible on option for many) by deducting all the expenses and by practicing depreciation.CONDITIONS FOR RENTING FURNISHED ACCOMMODATIONTo be able to rent...
The brackets of the progressive scale used to calculate french income tax for 2020 are revalued by 0.2% as of January 1, 2021. This revaluation is set according to the change in consumer prices excluding tobacco in 2020 compared to 2019. People who declare more than €10,084 in income for the year will have to pay income tax (instead of €10,064 last year). This is stated in article 4 of the finance law for 2021.Scale and tax ratesThe 2021 Income Tax scale sets the tax threshold and the applicable...
The tax consequences in France of Brexit for British residents : selling real estate in France will cost more.An increase in social security contributionsWhen a British resident sells a property located in France, the capital gain is taken into account for income tax (at a rate of 19%) and social security contributions (at a rate of 17.2%). However, since January 1, 2019, individuals who are covered by the social security system of another EEA member state...
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