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Britons face holiday homes tax hike

President Sarkozy has announced an increase in tax on investment revenue, potentially hitting Britons with homes in France

AccountancyAge.com, Accountancy Age 29 Aug 2008
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Britons who let their properties in France could be hit with new taxes, after President Sarkozy announced an increase in tax on investment revenue.

The French president has announced a 1 per cent rise on share, property rental and other investment income, The Times reported.

The move is intended to finance a welfare programme.

The tax increase, which officials hope will generate about €1.5 billion a year, will bring the total tax rate on investment revenue to 30 per cent.

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