English
FrançaisHello 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
Brana is right, you 100% definitely cannot purchase a leaseback apartment through an SCI.
However you are not fiscally paying income tax on in the UK since it is not considered to be a profit but a refund of money owed by the french tax administration.
You should get expert advice, but my partner is specialised in tax planning. Maybe he could help you!
In any case if you need to hand with this or anything else, you are welcome to contact me at contact@helpserviceonline.com or go to our website at www.helpserviceonline.com<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
I hope we will be able to help you soon!
Best regards
Gabrielle
Hello Dan,
An SCI can NOT purchase a Leaseback property!!! An SCI is not allowed to excersise a commercial activity.