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Hi there, Firstly, a very warm welcome to my August newsletter. Yes, I am back - a married lady now, with so much to tell you about my wedding and honeymoon in la Belle France. I cannot thank my colleague, Carol, enough for taking over from me for your last newsletter. Carol was right when she mentioned I am bursting to share with you details of our travels around the country. After our wedding (more later...) we drove down through France, into Italy and then back along the Mediterranean coast of France. From there we drove through Montpellier, across part of the Midi-Pyrenees on to Bordeaux on the west coast, La Rochelle and back up to the Channel port. We drove 3,000 miles in all! France, as we know, is a huge country with a wealth of culture, tradition and beauty to offer. And yet it is so close! Our wedding took place in a little village just a half an hour from Calais and Boulogne. We were blessed with glorious weather and our guests were delighted to find how easy it was to get to. We had such an adventure and I am enclosing some photos in this special edition, both of our wedding and one of France taken during our honeymoon. France has always had a romantic connotation and, as one who has recently had a marvellous wedding celebration there, I can vouch for this! Full of the joys of new married life as I am, I have some great articles for you in this month’s newsletter. I have introduced a note of solemnity with a useful general overview of non-resident status and of Capital Gains Tax, which I hope you will find useful. Then I have a wonderful property to show you what you can get for your money and Charles Purdy lets you know how you can save £££s on your property purchase with Smart Currency Exchange. These days we all need a little boost and I hope this newsletter finds you well, happy and enjoying your summer. As always, please do feel free to call or email me with any questions, queries or suggestions. Perhaps there is a subject you would like me to cover in future newsletters? Perhaps you have a story to tell our readers? I am always delighted to hear from you. So now sit back with your glass of Bordeaux and enjoy this month’s newsletter. And to set you on your way, here is a little picture of my new husband and I just after our wedding ceremony in France:
My husband and I! Enjoy! Alexis
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Honeymoon in FranceI have always had a strong affiliation to the Languedoc-Roussillon area of France as many readers will know from our France Buying Guide (www.francebuyingguide.com). I can still remember visiting it in my youth with my French pen friend and being utterly taken by its vibrant beauty, cosmopolitan air and relaxed atmosphere. It really is one of those places that, once you are there, you simply do not want to leave. Fast forward to the present, with my new husband and I driving through the South of France and stopping for a couple of nights in Montpellier – a wonderful city - during our recent honeymoon. Everything about it just seems to work. The pubic transport system outclasses many others; there is a comprehensive bus service with many buses leaving from stops outside the train station, St. Roch, which is serviced by a TGV connection from Paris, Lille, Lyon and Nice. There is also a wonderful tram system featuring two lines which form an “X” across the City centre – they are a very pleasant way of travelling across the city. They are clean, comfortable and offer a great view of the city plus they operate till midnight, making much more of the city easily accessible after dark. What's more, ticket prices are the same as for the buses and tickets are interchangeable between the two: how very well organised! We spent a lovely afternoon walking along the Esplanade. Lined with trees, benches, open air restaurants and a regular flea market, this is a truly superb place to spend an afternoon. We were there the day before Bastille Day and, once darkness started to fall, a wonderful sense of celebration began to emerge: there were bands marching through the city, children up late and playing merrily with hair bands and bracelets lit up by pretty LED lights. We could think of no better place to celebrate France's most noted day. The centre is packed with picturesque fountains and open squares. Beautiful architecture draws the eye upwards and even the newer buildings sit well with the historical ones. The lively heart of the city, nicknamed “L'Oeuf” - “The Egg” - due to its curiously shaped roundabout, is centred around the Place de la Comedie with the Opera House – an exact copy of the one in Paris – at one end. Montpellier is the capital of the Languedoc-Roussillon. The philosopher John Locke visited it in the 17th century and said “I find it much better to go twice to Montpellier than once to the other world” - a sentiment with which my husband and I would both heartily agree. There was a boom in the local economy in the 1960s with the mass immigration of French families from North Africa. The Old City became pedestrianised, large housing projects began and industry from far and wide settled in the city. As a result, this is one of the most affluent cities in France. Property wise, not surprisingly, this is an expensive city in comparison to many in France. Houses in the centre of town are rare, with many older buildings having been converted to flats years ago. Your best bet will be to look into the suburbs where you will find houses ranging from €150,000. From an investment point of view, you could do a lot worse than buy property here. Montpellier is currently undergoing a huge development surge with smart new apartment developments springing up all over the city. We spent a lovely evening with an old French friend of my husband's whilst there and he was telling us that these developments are attracting locals as well as foreign investors, a number of whom are purchasing off plan. Whether you are looking to invest, buy a holiday property, or want somewhere to move to permanently, prices are still way lower than the UK and the surrounding villages and small towns offer a wonderful lifestyle with an excellent Mediterranean climate. If you are keen to have a holiday home, I would advise looking around the Beziers or Pezenas areas for some real bargains. For those of you keen to have a DIY project, you can still find reasonable property to put your own stamp on which the French themselves tend to leave untouched. We can of course help you with this. Please email me with your requirements or alternatively click on the link that follows, letting me know as much as you can about what you are looking for. We have some superb contacts and only work with those professionals that we know and trust. We covered many parts of France during our honeymoon. Can you believe we actually drove almost 3,000 miles in 2 weeks?! Yes, I know, about the same as driving across the United States. But our journey only served to make us fall in love all over again – this time with France! I have so many more tales to tell you but will save these up for future newsletters. |
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How Smart differs…A couple of days ago I was asked a very simple question by someone who was thinking of buying property abroad: “How do currency companies differ?” He went on to add: “They all seem the same…they seem to offer the same benefits when I speak to them about transferring money abroad. How do I know which one to choose?” Actually, the people at Smart Currency Exchange are often asked this…and their reply is that there are enormous differences between Smart Currency Exchange and any other exchange company, differences that could make a world of difference to you. Firstly, Smart Currency Exchange is the only currency company in the UK that does not pay their traders commission – they get a regular salary. That fact alone will allow you peace of mind that you’re not in the hands of someone who is trying to make the most money they possibly can out of you. Secondly, they do not spend thousands of pounds on marketing. Generally, the word is spread via the Internet and by word of mouth, from one contented client to their friends and relations. This means that Smart is able to save vast sums on advertising and this is reflected in the exchange rates they are able to pass on to you, the client. When you phone Smart Currency Exchange, you will actually speak to REAL PEOPLE - people who can explain the whys and wherefores of transferring currency abroad and all about currency exchange rates. So please, don’t hesitate to pick up that phone and ask questions about this – Smart’s currency experts will have heard them all before and will be delighted to help you. You will immediately speak to someone who can clearly and concisely explain the whole process to you. If you would like to contact Smart Currency, please phone 0207 898 0541 or go to: http://www.smartCurrencyExchange.com/smartsquotation.htm To read the latest market information on Sterling and the Euro go to: http://www.FranceBuyingGuide.com/Currency270809.htm Smart sometimes feel that they have ‘friends’ rather than clients…and Ken Smith is a case in point. This is what he had to say: I would like this opportunity to offer my thanks to Smart Currency Exchange. I have been dealing with you for some time now, as I am having a property built abroad. I obviously use your services to transfer funds overseas. Your facilities being much quicker, easier and vastly cheaper than using my own bank. In fact I have recommended a couple of friends that have also used Smart Currency Exchange (names available if required), and likewise are extremely pleased with your services. I have found all the numerous staff that I have personally dealt with to be polite, helpful and full of good advice, a service not very often seen these days but nonetheless extremely welcome. I would particularly like to give my thanks to James who I deal with on a regular basis. I have always found him to be particularly friendly and efficient dealing with any issues I have with prompt attention. Once again thanks to all
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Non-resident status in the UKI have just read the most complicated article in the Sunday Times regarding non-resident status for those UK citizens who decide to live abroad. It seems to me that that nobody really seems to have a handle on this contentious subject – perhaps not even the tax man! I am going to try and lay this out as clearly as I can, from what I have gathered…and hope that this helps you. Right, the bottom line is, as you may guess, that the tax man is going to be scrutinising non-resident status very carefully from now on in expectation of a mass exodus by those lucky folk hoping to escape next year’s 50% tax rate. Once you have been non-resident for 3 years you do not pay UK income tax on overseas income. And if you are non-resident for more than 5 years you do not pay any capital gains tax (CGT) on your UK or overseas gains. Previously the ruling was that you were considered a resident if you spent more than 90 days a year in the UK. In most European countries it is 183 day a year - and indeed you can spend 183 days in any given year in the UK, but only if it is 90 days per year over 4 years. In other words, if you spend 183 days in one year, you only have 90 x 4 = 360. Then less your 183 leaves 177 for the other 3 years. See what I mean about complicated? There’s more: they have now decided that the 90 day a year includes any time spent in transit. Why? Search me…And how to track this? Anybody’s guess! Also, continuing connections with the country will now be taken into account too. Individuals must now prove an intention to leave the country permanently or indefinitely…and this may include such things as terminating membership of clubs, not regularly attending social events such as Ascot (yes, you read that correctly) or not keeping a car in the UK. Visits to grandchildren etc. will come off your 90 day per year limit. There are dispensations if someone in your family is terminally ill – you may be able to exceed your average of 90 days over 4 years, but NOT by more than the 183 days at a time without risking your non-resident status. A trifle harsh I would have thought… The one thing I was very certain of, having read this article and trying to clarify it, is that it is imperative that you find expert help from the outset in order to make sure that you do not fall foul of the tax man. I think that you would be well advised to think about all the financial implications well before you leave the UK; perish the thought, but should anything happen to you while living abroad, you do not want your partner or your heirs to be faced with endless financial problems at an already traumatic time. If you need help with this, please go to: |
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More about Capital Gains TaxI hope I am not whittering (or should that be ‘witter’ – neither are in the dictionary incidentally!) on too much about this – but then I ask myself – can one have too much information on how to save money…? It’s about that old bugbear, Capital Gains Tax in the UK. I did mention it a while back but here is a little more detail. Evidently, anyone who has sold a property that was not their main home since April 2003 may be able to claim a rebate on Capital Gains Tax (CGT), provided that it has been let out for a period. That period is clearly defined and you need to check this out carefully. Any gain made on a second home sale is usually liable for CGT, but rental holiday lets are now subject to both Business Asset Taper relief AND Entrepreneur’s Relief. It is estimated that this could reduce your CGT to 10 percent: since April 2008 it has been 18 percent and prior to that was as high as 40 percent! Frankly, my feelings on this are that it is a job for the experts – a really clued up IFA (Independent Financial Advisor) may well be able to save you quite a bit if money here. If you need any help here please give me a call – 0207 898 0549 – and I can point you in the direction of a really good IFA that has helped a number of our Guide readers. | ||
Land and building at Parthenay, near Secondigny
This is a really delightful rural piece of land adjoining a quiet village road, well situated at the edge of an attractive small village. It is 10 minutes from all shopping needs at either Secondigny or Parthenay, with Poitiers airport only 50 minutes away. It has a 200m2 block built building on the roadside edge of plot with electricity, water and sewage adjacent. The block built and corrugated iron covered building is presently used as a storage area/ workshop/ large garage/ stable/ and is situated on roadside edge of the plot. Planning permission has not yet been obtained but any purchase would be subject to outline planning permission being granted before settlement. As you may know, this is a truly lovely area of France. Nearby Parthenay is a famous medieval town and Poitiers a wonderful city. The Loire Valley, with its beautiful chateux, is not far. Secondigny is the nearest town and has bank facilities, bars, a supermarket, hairdressers, a pharmacy and other small shops. Do you like the sound of this? I know I do…To chat about this, do phone me on 0207 898 0549 or fill in the quick form at:
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A joyous day, a wonderful celebration! As you know, I have been touched by messages of congratulation from my readers. It does just show that a little love makes the world go round so, due to popular demand, here are a few photographs from our lovely French wedding for you:
Me with my little niece and grown up daughter, Natasha
The Moulin de Mombreux, our wedding venue at Pas de Calais.
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We at the Guides Company have a wonderful new Emigration Guide. Kim sent out an email two weeks ago asking if some readers would review what she’s created and we were simply overwhelmed by the response. It will be going out for sale in October, but I wondered if you would like to take a peek at it and tell me what you think? It has over 10 tick lists and masses of information on everything from finance, children, removals, property, things to cancel, documents to sort out and so on. Even if you have bought a Country Guide this is an absolute must-have and will really ease your burden in the relocation process. Indeed, we think that with this Guide we have done all the thinking for you…all that you need to do is have fun once you arrive in the country you love! To get a sneak preview of the Guide just go to: http://www.EmigrationGuide.com This Guide will be selling for £12.97 shortly so - if you can - let me know if you feel that it provides value for money. Also, I would really appreciate any feedback you have: any general tips or things that you found to be useful to you as you planned your move would be welcome. Enjoy!
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A little tip and a good bit of news for you this month:
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Hey, here is the bit I look forward to each year – it’s SHOWTIME! Yes, the great annual French Property Exhibition Show will be at Olympia, London, from the 11 - 13 September 2009 – it is open from 10am - 5pm daily. We will be at stand 27 so please pop by and introduce yourself – I would so like to meet you face to face! We can arrange FREE entry tickets for France Buying Guide readers so please email me at: If you could please insert ‘Free Tickets French Property Exhibition’ in the subject box I will then sort this out for you.
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It occurred to me whilst we were travelling through France on our honeymoon that it is never too late to embrace life and to really GO for what you want. As you know, I have found true happiness rather late in life and more importantly (!) my husband is a fellow Francophile. Everyone has dreams but sometimes little gremlins get in the way: but I have found that if you really focus on what you want and remember that life is not a dress rehearsal, then the power is in your hands. I know you may be thinking of buying a property in France but are not sure if (a) you really can or (b) if this is the right time. I am here to let you know that the answer to both of those questions is a resounding YES! I have done it, several of my friends have done it and I honestly do not know of a single person who has regretted having their little place in France, whether they live there all the time or simply go for holiday breaks. As you know, I am here to help you as much as I can with this! If you have not already done so, do arm yourself with a copy of our fabulous France Buying Guide. It holds a wealth of information which you can pick up and put down as you go through the process. It is easily portable too - just pack it at the bottom of your suitcase! www.francebuyingguide.com/guide.htm Alexis |
