Tax implications for second home / renovations.
HI we have just purchased a property in montmorillion and intend to live in the main property and rent out two attached properties as gites.
I have a UK and EU passport whilst my wife holds a uk passport only.
I and due to retire in July and will have a small pension paid annually of approx £13000. We are lucky to have large savings and income from several properties in the uk which we intend to keep providing a small additional income .
I plan to renovate my property over the next 12 months to bring it up to code and will be spending a considerably amount of the 12 months in France .
I do not expect any healthcare issues or benefits during this time .
The question is is there any tax strategy I should look at going forwards ( we intend to trade as micro entrepreneurs) and as I expect to be in France much of this year and into next year would I be expected to pay any taxes into the system .
At what point should I register the business and does the
Fact I have both a uk and eu passport help or hinder or have any tax consequences?