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Investors in French property 'to benefit from tax reforms'

Article Date : Monday, September 03, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

New tax reforms in France could have a positive impact on property owners in the country, according to experts.

Approximately 95 per cent of homeowners will now be exempt from paying inheritance tax (IHT) after the government tripled the threshold at which people become liable to pay.

As a result, only the wealthiest people will be affected by the tax, which is based on the value of a person's estate when they die.

Overseas property specialist Siddalls said British investors in France would be among those to benefit from the reforms.

Marjorie Mansfield, financial adviser at Siddalls, told the Times: "IHT in France used to catch Brits out but for many there is no longer anything to worry about."

This comes after Homes Worldwide recently reported that the French property market was experiencing sustained growth thanks to continued demand from foreign investors.

Anthony Fernandes, director of SPC Overseas, was quoted as saying that current market conditions had created a very "ripe" climate for investors.
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