France could be new tax haven
FRANCE could become a new destination for wealthy Britons seeking to escape paying 50 per cent tax, after President Nicholas Sarkozy signalled that he was planning to scrap the country’s wealth tax.
Paddy Dring, head of international property at Knight Frank LLP, says: “Scrapping ‘wealth tax’ would provide an edge for France, which has retained strong demand for properties even in these uncertain times.
“Tax is always an area of concern for buyers, whether buying a holiday home or moving on a medium or long-term basis.
“France continues to drive over 50 per cent of Knight Frank’s international enquiries.”