Movable heritage: tangible and intangible

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2 minutes

Unlike real estate, personal property is made up of both transferable assets (furniture, jewelry, paintings, etc.) and intangible assets (stocks, bonds, etc.).

Capital Video: What is movable heritage?

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Movable assets: definition

Legally, movable property is distinguished from real property, which consists of fixed assets (buildings, land, etc.). It is made up of 2 product categories:

  • Goods that can be touched and physically moved: furniture, jewelry, paintings, stamps, collectible vehicles, etc.
  • Intangible assets: they are mainly composed of intangible financial values ​​such as shares, bonds, SICAV shares, FCP shares, etc.

intangible movable heritage

This asset is essentially made up of assets that produce taxable income, whether located in France or abroad.

In this category we mainly find stocks, shares, bonds, treasury bonds, life insurance in case of exit before 8 years, term accounts, Sicavs and investment funds (FCP).

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These personal property may also include assets that produce non-taxable income. Among these, we mainly find the regulated savings books: Livret A, Young People's Book, Popular Savings Book (LEP), Sustainable Development Book (LDD), Popular Savings Plan (PEP), Home Savings Plan Account (CEL), Home Savings Plan (PEL), company savings plan, share savings plan (PEA), but also life insurance in case of departure beyond 8 years.

The tax regime applicable to income, gains and profits from movable property is essentially based on the taxation of income from movable capital (dividends, bond coupons, etc.) and capital gains from intangible movable property (shares, bonuses, etc.).

Capital gains correspond to the (positive) difference between the acquisition price of a movable asset and its sale price. In most cases, this added value is calculated by a banking or financial institution. Failing this, the taxpayer must indicate to the tax authorities the nature of the securities sold, their cost and sales prices, the dates of purchase and sale, etc., using the ad hoc form.

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The capital gain is subject to the single flat-rate tax of 30% (12.8% income tax + 17.2% for social security contributions). It can also be imposed on the progressive scale.

In this case, the taxable capital gain must be added to other income when filing your income tax return. You will be taxed according to the IRPP scale to which the Social Security contributions are added (17.2%).

Movable tangible assets

This estate includes personal property that can be physically touched and moved. This category is broad since it covers everything from animals to furniture, collectible vehicles, precious objects, etc.

As a summary, this heritage can be divided into 2 parts:

  • Furniture and appliances: beds, tables, chairs, dressers, secretary desks, TV, HI-FI equipment, etc.
  • Precious objects: jewelry and objects made of precious metals, precious stones and pearls, branded jewelry and watches, paintings, drawings, sculptures and photographs, carpets, handmade tapestries, art objects, collections, artistic and decorative furniture, valuable musical instruments .

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The valuation of these precious objects is determined based on their market value in case of resale. Prices can be obtained by consulting the results of sales (auctions, etc.) of equivalent objects and in similar condition, to antique dealers, second-hand dealers, etc. For rarer items, it may be helpful to have an expert estimate, especially if these items require specific insurance.

Fiscally, the sale of precious objects, art objects and collectibles is subject to a flat-rate tax. Its amount varies from 6 to 11% of the price of the property (+ 0.5% of the CRDS). This tax applies in particular to sales of handmade paintings and pictures, engravings, engravings, original lithographs, artistic photographs, signed and numbered up to a maximum of 30 copies, as well as antique furniture and objects over 100 years old.

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Annotate : Below 5,000 euros, most sales (jewelry, coins before 1800, stamps, archaeological objects, collectible vehicles, etc.) escape this 6% tax.

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