Tax exemption may benefit UK investors

British investors who have made money transfers to mortgages in France may be eligible for exemption from some taxes, it has emerged.

The country's Welfare Tax sees those residing in the region liable to pay levies if they own more than 790,000 euros (£664,786) in worldwide assets.

However, recent changes to regulations mean that UK citizens who have owned property in the country since August 6th 2008 will be exempt from paying some fees for several years.

Now, Britons will not face being taxed on any properties they own outside of France for five years after the date they first took out mortgages in the region, providing money transfers were made after last August.

The move is expected to come as a relief to UK investors, who are likely to benefit from the change in regulations.

In other news, research by the Institute for Economics and Peace and the Economist Intelligence Unit recently placed France at number 30 in their list of the world's most peaceful countries.

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By Linsey Summers.