This was proposal was rejected in December 2011 but is to be voted on again in May 2012, and it is thought likely that the reduced allowance will be approved. It is not known whether the spouse exemption will be reduced from a full exemption to an allowance of 76,000 Euros.
If you are considering an absolute gift of assets to children (in your lifetime), you should get on with it quickly in case the allowances change. Remember that the French legal process is far slower than in the UK you should allow as much time as possible ideally a couple of months, in order to achieve this.
John Kitching, French Law Consultancy.
info@frenchlawconsultancy.com
