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Has anyone got past their first lease term yet?
Forums:
If so it may be worth giving any experiences (good as well as bad) and any pitfalls to avoid.
Has anyone renewed?.
Has anyone sold?.
Did anyone make a capital profit?
General Discussion
Article 606
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Is anybody and expert on Article 606? As an owner of a leaseback property, typically what could I be liable to pay for under Article 606 and what should I not be expected to pay for? Anyone know?
Holiday Home Swap
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It might be a good idea to add a holiday home swap to the site
DECLARATION D’UN LOCAL A USAGE PROF
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Hi All,
just wondering if you all completed the 'Declaration D'un local a usage professionnel ou commercial' form? Will this bring an increase in tax we are liable for next year?
Mags
Income Tax - where to pay it.
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My French accountant deals with my TVA and income tax at present.
Now that the rules about TVA are changing from October, how easy it is to dispense with her services altogether and pay income tax soley in the UK. Even if it is a little more, I am sure I will be better off as I won't have to pay 2 accountants.
Will the French chase me for tax, or can I just ignore it and pay it all in the UK (that is if my UK accountant can't find a way for me to avoid it here )
Leaseback length options
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Our management company, who managed our resort for 7 years is in Administration and is proposing a huge reduction in the rent to remain. The owners have secured other proposals also at reduced rentals but they are all on the basis of a new 9 year term. Most owners only want to sign up for 3 -5 years. Is 9 years a statutory minimum length for a leaseback agreement? If so given our circumstances where our management company is likely to break the lease after 7 years does the 9 year minimum term still apply to a new agreement?
New TVA (VAT) rules for leasebacks
Forums:
As all leaseback owners will know by now there has been a change to the TVA/VAT rules since October. Up to then we received our appartment (and parking) rent from the MC inclusive of TVA. We then had to repay this TVA the following year in the form of a vat return.We were essentially VAT registered. Since then however we are receiving our rent without the vat. Hence the slight reduction in rent for the last quarter and for the future.
Are we now classed as not registered for TVA? Do we still have to make a return?
Query re TVA payable on rent
Forums:
My husband owns a leaseback property in France, and I've
just discovered he's been paying TVA on his rental
income.Is this right? The correspondence about it seems to
suggest that he can claim expenses against the amount
payable, and these seem to be the same expenses as he cites
against the income tax he has to pay on his rental income
in this country (UK).
Could any one advise please?
Roma
Defaulting on a French mortgage
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Does anybody know what happens if you can no longer pay any
interest or capital back to the French bank who lent you
the money to buy a French property? Especially if they
repossess and are unable to sell the property because it's
a leaseback with an uncertain future. My husband has such a
mortgage, but we've both been made redundant. Our main fear
is that the French bank might be able to re-possess our UK
home, although it is in my name only. Can anybody advise
please?
Group Action (MEP letter)
Forums:
Hi all,
Diana Bryce has organised for a letter to be sent (today or early next week latest...the impact will be far greater if everybody sends this at the same time!) to your MP, local MP and MEP with regards to the serious problems being had with leasebacks.
You can see the original thread in the 'Leaseback Stories' section of the forum and under the topic heading of 'Group Action'. You can contact Diana for a copy of the letter/email with information.
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