Reader question: We are UK residents. If we sell our French home, can the money be paid straight into our English account or does it have to go in to our French account first? A.S.
There is no reason why the funds from the sale of a French property cannot be paid into a UK account, but the particular notarial office might have an internal requirement or preference to pay the funds into a French bank account.
Note that there is an additional requirement, post-Brexit, in the case of UK residents selling French property, for a fiscal representative to be involved in checking any capital gains tax due.
Any tax is deducted by the notaire from the proceeds before the payout to yourself, so this should not change the way funds are paid to you, with one proviso that the representative could ask for some money to be held back ‘in escrow’ for several years in case of tax office queries.
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