General Discussion

Pay Tax on French Leaseback VAT refund?

1 April 2008
Forums: 
General Discussion

Hello All,

I am purchasing a French Leaseback property and even my French accountant can't assure me whether I will pay any UK tax on the 19.6% VAT refund? I should tell you that I am one of 3 people who have formed an SCI in order to purchase our leaseback property. In my mind, we would be drawing the VAT refund from the French bank account to which the SCI is linked, all into our personal English (where we are resident) bank accounts.

I welcome your suggestions,

Dan Hazlehurst
 

No tenant for one whole year

12 February 2008
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General Discussion

I have a bought a Lease-Back in Carcasonne and one year later, no tenants have been found for almost half of the 80 apartments in the block. What I had mistaken for rent on my account each month was in fact insurance

- I discovered this by accident when calling the 'gerant' about something else - there has been no official communication giving updates.

- There may be a problem with the tax rebate due to no tenant and therefore no real rental income

No Tenant and time is running out

12 February 2008
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General Discussion

Has anybody had the same experience. I live in France and bought a "lease-back" in Carcasonne. Everything went like a dream until I realised that the sums of money appearing on my bank statement every month was not in fact rent but insurance. I discovered this in November when during a conversation with the Estate managers, they 'happened' to mention that I had not tenant. This is February, the insurance runs out soon and still no tenant. Has anybody else had a similar problem, there are so many people in the chain that it is hard to know where to start as 'nobody' is responsible.

Syndicate Charges

3 February 2008
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General Discussion

Could owners of leasebacks give some indication of their annual syndicate charges based on the sq mtrs and facilities at their residence. We paid over 800 euros last year for a 35 sq mtr apartment and are trying to ascertain whether this is reasonable or not. This is a student residence offering very basic facilities (eg no swimming pool to maintain).

 

Residences de Tourisme

3 February 2008
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General Discussion

Our property is registered under the Residences de Tourisme regime. When we bought it we were under the impression that it was to be let to tourists. It has turned out that it is being let to students. Our solicitor advised us at the time that this residence had to be marketed to tourists abroad in order to comply with "Residences de Tourisme". If the company failed to market it abroad, then the VAT would have to be repaid. We were also told that certain services had to be provided, such as breakfasts, laundry facilities etc. Our residence is certainly not offering breakfasts.

La Toussuire 1800

1 January 2008
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General Discussion

Hi all! We are new members, an active outdoorsy family of four from wales who love skiing.

We are bored with lie in the sun summer holidays and cant go without our annual ski 'fix' but with four to pay for our ski weeks are getting more and more expensive.

Have been looking at leasebck for a while and fancy this development in Las toussuire through UK overseas. intend to visit in next few weeks. Ayone know anything about the development or Les Sybelles area please??

Thanks!!

VAT rebate problems in Tarn

30 December 2007
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General Discussion

Hi,

our villa in Les Cammaze (Dept Tarn) is just complete and the developer just before xmas has told us that there may be problems with the VAT rebate.

As this was just before xmas i did'nt have time to get into this in detail but obviously am worried. He says it is an issue with local government but this is all the details I have at the moment.

Has anyone else encountered this before in Tarn or anywhere else in France? Any direction would be much appreciated, I would like like to get stuck into this in the new year.

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