Britons face holiday homes tax hike

Britons who let their properties in France could be hit with new taxes, after President Sarkozy announced an increase in tax on investment revenue.

The French president has announced a 1 per cent rise on share, property rental and other investment income, The Times reported.

The move is intended to finance a welfare programme.

The tax increase, which officials hope will generate about €1.5 billion a year, will bring the total tax rate on investment revenue to 30 per cent.

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