Can we receive money from the sale of a French house into a UK account?
Reader Question: We are UK residents. If we sell our French house, can the money be paid directly into our English account or does it have to be paid into our French account first? LIKE
There is no reason why funds from the sale of a French property cannot be paid into a UK account, but the particular notarial office may have an internal requirement or preference to pay the funds to a French bank account.
Note that there is an additional requirement, post-Brexit, in the case of UK residents selling French property, for a tax representative to be involved in verifying any capital gains tax due.
Read more: Couple find solution to withholding tax on French second homes when selling a house
Any tax is deducted by the notary proceeds before disbursement to you, so this should not change how funds are disbursed to you, on the condition that the representative can request that a sum of money be held “in escrow” for several years in case of requests from the tax office.
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