We bought our property in France, consisting of a house with two small gites in the grounds, in 2012. Since then we have been living in half of the main house while running the other half as a chambre d’hotes, we have also been renting the gites out. We now want to sell the property.
- What are the implications of selling as an ongoing business rather than just a property?
- If we sell as a property rather than as an ongoing business can we continue to trade as a business up until the point of sale?
- I understand that as the house is our main residence that we are not liable for capital gains tax on the house - does this also apply to the gites?