France could be new tax haven

Yorkshire Post - Property - - PROPERTY -

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.”

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.