Hi, I saw a discussion chain from early last year talking about issues around TVA repayment and potential for status as para hotelier to avoid TVA repayment. Does anyone have some up to date experience in regard to leaseback termination and options that are available?. Equally, has anyone dealt with tax authority to see what flexibility is available to owners in management default situations?
Thanks
I have been told that MGM/CGH are now introducing penalty clauses into their leases whereby if you don't renew at the end of the 11 years (where the "loi montagne" requires 18 year leases) you have to pay the equivalent of 2 years rental turnover in compensation to CGH .
Hi,
I’ve received a 4 page form titled Revenus 2010... with a detailed booklet of notes (probably in relation to completing the form), and a leaflet regarding 2011 Revenue. I’ve emailed the sender, requesting advice/translation into English if possible. Just thought I’d check and see if anybody else has received this, and can understand French? It’s possible that only a few sections may need to be completed.
Thanks,
Tuulia
has anyone got experience of life assurance misselling,which was a condition of there french mortgage?
Any replies appreciated!
John
Has anyone ever attended an Assemblee Generale.I presume all business is conducted in French.Do many overseas owners actually attend.I just wondered as I am considering attending one next month,just to make contact with some other owners in my development.
Hi all,
I came across this article
If its true and applies to leasebacks it would not be good news
expenses benefits
By Craig McGinty on Apr 4, 2011.
Owners were allowed to deduct expenses such as mortgage interest, cleaning, agent commission, utilities, business rates, insurance and any improvements and furnishings from their rental income.
Hi, Due to the leaseback management company going into receivership and not getting rent I am having to consider defaulting on a French mortgage. Does anyone know if the French mortgage lender can persue you in the Uk and if so can they enforce you to sell a uk property with a uk lender? Also have another French mortgage with a different french bank can they touch this? A bad situation but finding it hard to get answers.thanks
Paul
We have just returned from a holiday in our leaseback apartment. The neighbouring apartment is up for sale for about 150K Euros. It is the same size and layout as ours. We paid 110K Euros about 6 years ago. There was a vat reduction of about 21K. If it was to sell at 150, what happens to the VAT discount we benefitted from, do we pay it back out of the sale, or does the buyer benefit from the VAT discount that is left (ie 14/20 * 21K) and that is taken from the 150K?
This is really confusing me - can anyone help?
Thank you
K
We have been paying income tax on our rental income from our leaseback apartment in the french alps. It has just dawned on me that i pay income tax on the value of the weeks that i use myself, and i own the apartment - why would i pay income tax on holidaying in an apartment i own? Does this sound right to anyone else?
Can somebody advise me please? we have a nine year
leaseback non guarantee rental scheme in the Vendee. The
lease stated very clearly that if we decided to withdraw
from the leaseback, the management company would not
require us to pay compensation. The management company
was bought by another company within the first nine years
of the lease. This new company now state that we must
compensate them if we do not renew our lease. The nine
years expires in December 2011. We would be interested in
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