Today is:
Service France
| A conversation between a group of UK residents
with SIPPs planning to purchase a French investment
property as a syndicate using SIPP money, and David
Anderson, solicitor and chartered tax
adviser, concerning the best tax structure under
French law for buying the French property.
Please note that taxation and property are complex subjects and you should not take or refrain from taking any step without full independent advice on the particular facts of your case. The content of this article is of a general nature and no liability is accepted in connection with it. Q. We want to buy a French property using our SIPPs with a view to mainly renting it but also using it ourselves from time to time. We want to minimise our French tax exposure and certainly do not want to be taxed as a company in France. Is there a simple way of structuring the deal, which will be bullet proof from a tax perspective and totally acceptable to our SIPP providers? A. Yes. There is a fairly straightforward way, which will legally achieve all your objectives and enable each investor to be taxed separately at a low rate. In some cases no tax payable in the UK or France is possible. The maintenance costs for the structure are low and the structure is also acceptable to all the main mortgage lenders in France. Q. Please go through the structure explaining how it works legally and tax wise both in the UK and France. Premium content: for a full copy of this article, please call or email David Anderson. Sykes Anderson LLP can advise on investment in French
property. |