A Painless Tax Free Investment
Topics: French leaseback, property, investment
When Benjamin Franklin uttered the words ‘In this world nothing can be said to be certain, except death and taxes’, he probably didn’t realise how often this would be quoted. An American politician from the 1700’s, he certainly knew what he was talking about when it came to the constraints of tax.
These days, the tax system is pretty well wrapped up and many loopholes that people have used to avoid it have been closed. Our tax money pays for a great deal of services that we do need but it also cripples the average wage earner with high rates. Add to that all the news reports of how our tax money is wasted, it can really grate on the senses.
Inheritance tax is a real thorn in the side of many people. It hardly seems fair that our relatives spend all their days working and paying tax just for us to have to fork our massive tax payments when we receive the things they left us.
Hand over fist, the UK government try to fleece us for more tax money. Most law abiding citizens feel compelled to pay it, with the occasional few making a stand, but it gets us all in the end. Even the Queen has desperately tried to avoid her inheritance tax bill of 20 pounds million but to the relief of most of us, it seems she is not above the law.
The UK government like to think they’re convincing us that we are getting a good tax deal in the form of tax credits. However, many recipients of this ‘benefit’ would disagree. There has been widespread condemnation in the way the tax credits system has been handled, pushing many people into debt when overpayments are made and then reclaimed.
The great tax debate is a weighty one in the UK. Many citizens look for legitimate ways to hang on to their hard earned cash by investing it for the future. Unfortunately, many investments come with tax issues of their own.
However, there is one investment that can be considered totally tax free and legal.
French Leaseback is a term coined for a tax status involving property investment in France. All over France, there is huge demand for top quality accommodation for tourists, corporate travellers, pensioners and students.
It is possible for an investor, whether resident in France or not, to purchase a French leaseback property for one of the purposes above and gain huge financial savings. Immediately on completion of sale, they will receive a tax refund of 19.6% on the purchase price.
Add to this, the rental income from French leaseback properties which itself is tax free and the finances are already looking good. It is essential that French leaseback properties provide certain services to its residents such as a managed reception area and laundry facilities to be considered under this scheme.
It is wise to employ a good accountant if you are investing in French leaseback. They will ensure all your finances are recorded correctly for French tax officials and will also ensure your income is totally tax free. This leaves you free to use all the rental income to pay off your mortgage, thus leaving you with a future investment with an outlay that doesn’t hurt too much.
Property expert Catherine Harvey looks at the use of the French leaseback property investment system. To find out more please visit www.premierfrenchleaseback.com
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