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Inland Revenue v Allen

This recent House of Lords (England and Wales) decision relates to the calculation of capital gains tax upon the sale of property held by an SCI (société civile immobilière or special French property holding company). A potential individual capital gains tax liability may arise upon the sale of French property that it owns when the shareholders are resident in England and Wales. This decision emphasises once more the fact that the use of companies to purchase French property can raise taxation issues both in France and abroad and requires careful consideration on the basis of the individual situation. Companies can be a Trojan horse: look wonderful but can bring all kinds of difficulties!

05/12/2002 - Legal Update

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