French property IHT rules 'need checking out'
Investors in French property should ensure they understand inheritance tax (IHT) rules, a financial adviser has warned.
Alex Pegley, director at Calculis, said that people could lose out on their inheritance by paying twice.
France, as in Spain, has very different rules from the UK and Mr Pegley suggested people's understanding could be fogged by the popularity of buying French property.
Recently, chancellor Alistair Darling said the government was raising the IHT threshold for couples to £600,000.
But investors are warned that more taxes could also be levied in other countries, such as wealth tax.
"They should get a feeling for what the inheritance tax situation is in the country they're buying in," was Mr Pegley's advice to property buyers.
He added that it was vital for investors to talk to an expert in France if they were considering buying property there, but added it was something that often people did not think about doing.
"People aren't seeking advice on the overseas situation," he concluded.
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