The 2012 supplementary budget (LFR 2012) passed by the French Parliament on July, 31 2012 contains substantial changes to the level of taxation applicable to individuals and is expected to raise €7.2bn in 2012 and €14bn EUR in 2013.

Amongst various provisions regarding VAT, financial services or the President and Prime Minister's own wages, the following is relevant to UK residents owning a second home in France. 

3 Art. 4 of LFR 2012

4 Art. 4 of LFR 2012

5 Art. 25 of LFR 2012

For further information please contact Patrick Delas, solicitor - senior associate - avocat.

The 2012 supplementary budget how this may affect you - July 2012.pdf