French inheritance tax may be payable on death by a beneficiary who receives French assets whether immovable, such as a villa or chalet, or movable assets, such as shares or funds in a French bank account. French inheritance tax is known as droits de succession.
Beneficiaries are taxed separately based on the market value of the asset at the time of the death of the deceased. The rate of tax varies according to the beneficiary’s relationship with the deceased (for example, spouse, civil partner, sibling, nephew, niece etc). The rates range from 5% up to 45% for family members in the direct bloodline, and a punitive rate of 60% for non-blood related beneficiaries. There is also a nil rate band allowance, the amount of which depends on the beneficiary’s relationship with the deceased.
Lifetime gifts are subject to a different tax regime, known as droits de donation.
Trousset Fawcett are leading cross border and French inheritance law solicitors based in the heart of London, UK. We offer specialist services relating to French inheritance tax. To discover more about our French inheritance tax solicitor service, please see below.
As expert French inheritance law solicitors, the services we provide are extensive and can cover your tax journey from beginning to end, which may involve:
Executors or solicitors who are winding up estates often instruct us to implement testamentary provision regarding French assets. Part of our expertise is to assess promptly whether French inheritance tax is payable in order to avoid penalties and interest for late payment.
We do not advise on matters relating to the UK’s inheritance tax laws.
If you are looking for French legal services, we also advise on French property law, French wealth tax and French capital gains tax. To hear more about our areas of expertise and what we can offer you, please contact us online or call on +44 (0)203 773 22778.
For French legal advice by a French solicitor or notary public service, contact Trousset Fawcett. We offer a truly specialist legal service for clients based in England and Wales. Enquire with us today.