Fr Capital Gains

---
name: fr-capital-gains
description: "France capital gains and investment income of resident individuals, tax year 2026 (income of 2025 declared in 2026, and income of 2026). Covers gains on securities under the flat tax (PFU 12.8% plus social levies of 18.6% for disposals from 1 January 2025) or the global option for the progressive scale, holding allowances on pre-2018 shares, losses carried forward ten years, dividends and interest, PEA, life insurance withdrawals, free shares, RSUs, BSPCE, stock options, employee savings and PER exits, and property gains (19% plus 17.2% social levies, duration allowances, surtax above EUR 50,000, main-home exemption), forms 2074 and 2048-IMM, and penalties. Trigger on plus-value, PFU, flat tax, option barème, 2074, 2048-IMM, abattement pour durée de détention, résidence principale, PEA, assurance-vie, AGA, BSPCE, stock-options. Out of scope: crypto (fr-crypto-tax), non-residents (fr-cross-border), exit tax (leaving-france-exit-tax), rental income (fr-rental-income), household computati"
license: "AGPL-3.0-or-later (code) / OpenAccountants Guide License v1.0 (content)"
metadata:
  source: openaccountants
  openaccountants_url: "https://www.openaccountants.com/skills/fr-capital-gains"
  jurisdiction: "FR"
  tax_year: "2026"
  last_updated: "2026-10-31"
---

# France: capital gains, investment income and employee shares

> **Based on work by [Romain Simon (@romainsimon)](https://github.com/romainsimon/paperasse)**, licensed under MIT. Adapted for the OpenAccountants format.

The return filed in 2026 covers income received and disposals made in 2025. Income and disposals of 2026 are declared in 2027. Where the two years differ, this skill names the year. Crypto gains are in `fr-crypto-tax`, rental income in `fr-rental-income`, the progressive scale and the household computation in `fr-personal-income-tax`, the CSG and CRDS in `fr-social-contributions`, non-residents in `fr-cross-border`, and the exit tax in `leaving-france-exit-tax`.

## Who this applies to

- **In scope:** individuals who are French tax residents (CGI art. 4 B), taxed on dividends, interest, gains on securities (CGI art. 150-0 A ff.), the PEA, life insurance withdrawals, employee shares, employee savings, PER exits, and gains on property held privately (CGI art. 150 U ff.).
- **Social levies** (CSG, CRDS, solidarity levy) apply on top of income tax to residents (CSS L. 136-6, L. 136-7). A resident working in another EEA state or Switzerland and compulsorily covered by that state’s social-security system is exempt from CSG and CRDS and pays only the 7.5% solidarity levy (F2329).
- **Out of scope:** companies, professional traders in securities, property dealers, property held by a company, building land, non-residents (pointer in Cross-border points), crypto-assets (`fr-crypto-tax`).

## Rates, bands and thresholds

| Item | Rate or amount | Year | Source |
|---|---|---|---|
| PFU, income tax part, on dividends, interest and gains on securities (CGI art. 200 A, 1) | 12.8% | 2025 and 2026 | https://www.service-public.gouv.fr/particuliers/vosdroits/F2613 |
| Social levies on gains on securities (income from wealth): CSG 10.6% + CRDS 0.5% + solidarity 7.5% | 18.6% | Disposals from 1 Jan 2025 (17.2% before) | https://www.service-public.gouv.fr/particuliers/vosdroits/F2329 |
| Social levies on dividends and interest (investment income) | 17.2% if received in 2025; 18.6% if received from 1 Jan 2026 | 2025 / 2026 | same page |
| Social levies on property gains, rental income, life insurance, PEL, CEL, PEP (CSG kept at 9.2%) | 17.2% | 2025 and 2026 | same page |
| Life insurance contracts of rente-survie and épargne handicap | 18.6% | 2026 | https://www.service-public.gouv.fr/particuliers/vosdroits/F22414 |
| Deductible CSG, only under the progressive-scale option | 6.8% | 2025 and 2026 | https://www.service-public.gouv.fr/particuliers/vosdroits/F2329 |
| Dividend allowance, only under the scale option (CGI art. 158, 3-2°) | 40% | 2025 and 2026 | https://www.service-public.gouv.fr/particuliers/vosdroits/F2613 |
| Ordinary holding allowance, shares bought before 1 Jan 2018, scale option only: 2 to under 8 years / 8 years or more | 50% / 65% | 2025 and 2026 | https://www.impots.gouv.fr/particulier/questions/jai-realise-des-plus-values-ai-je-droit-un-abattement-pour-duree-de-detention |
| Enhanced allowance (eligible young SME shares acquired before 2018, scale option): at least 1 to under 4 years / at least 4 to under 8 / 8 or more | 50% / 65% / 85% | 2025 and 2026 | same page |
| Fixed allowance, retiring SME director (CGI art. 150-0 D ter), disposals 2018 to 2031 | EUR 500,000 (EUR 600,000 farm to young farmer, from 2025) | 2025 and 2026 | https://www.impots.gouv.fr/particulier/questions/dirigeant-de-pme-partant-la-retraite-comment-sera-imposee-la-plus-value-que-je |
| Advance payment excuse, reference income limit, dividends | EUR 50,000 single / EUR 75,000 couple | 2026 | https://www.service-public.gouv.fr/particuliers/vosdroits/F2613 |
| Advance payment excuse, reference income limit, interest | EUR 25,000 single / EUR 50,000 couple | 2026 | same page |
| PEA payment ceiling / with PEA PME-ETI / adult attached to parents | EUR 150,000 / EUR 225,000 / EUR 20,000 | 2026 | https://www.service-public.gouv.fr/particuliers/vosdroits/F2385 |
| Life insurance, premiums from 27 Sep 2017: contract under 8 years / 8 years or more (up to EUR 150,000 of premiums) | 12.8% / 7.5% | 2026 | https://www.service-public.gouv.fr/particuliers/vosdroits/F22414 |
| Life insurance yearly allowance, contract 8 years or more | EUR 4,600 single / EUR 9,200 couple | 2026 | same page |
| Life insurance, premiums before 27 Sep 2017, optional final withholding: under 4 / 4 to 8 / 8 years or more | 35% / 15% / 7.5% | 2026 | https://www.impots.gouv.fr/www2/fichiers/documentation/brochure/ir_2026/pdf_som/08-RCM_121a136.pdf |
| Free shares (plans from 1 Jan 2018): gain up to EUR 300,000 a year: scale after 50% allowance, levies | 50% allowance; 18.6% | 2026 | https://www.impots.gouv.fr/particulier/questions/mon-entreprise-ma-attribue-des-actions-gratuites-comment-sera-impose-le-gain |
| Free shares: part above EUR 300,000: salary rules, levies 9.7%, employee contribution | 9.7%; 10% | 2026 | same page |
| BSPCE, shares subscribed from 1 Jan 2025: exercise gain, 3 years or more / under 3 years; sale gain; levies | 12.8% / 30%; PFU 12.8%; 18.6% | 2026 | https://www.impots.gouv.fr/particulier/questions/jai-vendu-des-bons-de-souscription-de-parts-de-createurs-dentreprise-ou-bspce |
| BSPCE before 1 Jan 2025: granted to 2017 with 3 years or more / any grant under 3 years | 19% / 30% | 2026 | same page |
| Stock options from 28 Sep 2012: levies on exercise gain / employee contribution | 9.7% / 10% | 2026 | https://www.impots.gouv.fr/particulier/questions/jai-des-stock-options-comment-est-impose-le-gain-levee-doptions |
| Stock options 27 Apr 2000 to before 28 Sep 2012: 4-year lock-up kept, first EUR 152,500 / excess; with additional 2-year holding | 30% / 41%; reduced to 18% / 30% respectively | 2026 | same page |
| Property gain, income tax (CGI art. 200 B) | 19% | 2025 and 2026 | https://www.service-public.gouv.fr/particuliers/vosdroits/F10864 |
| Property duration allowance, income tax: years 6 to 21 / 22nd year / beyond 22 | 6% a year / 4% / exempt | 2025 and 2026 | same page |
| Property duration allowance, social levies: years 6 to 21 / 22nd year / years 23 to 30 | 1.65% a year / 1.6% / 9% a year (exempt beyond 30) | 2025 and 2026 | same page |
| Property: flat acquisition costs / flat works (held over 5 years) | 7.5% / 15% of the purchase price | 2025 and 2026 | same page |
| Property: sale exempt if price does not exceed | EUR 15,000 | 2025 and 2026 | same page |
| Surtax on property gains (CGI art. 1609 nonies G): taxable gain above EUR 50,000 | 2% to 6% by bracket, with smoothing | 2025 and 2026 | https://bofip.impots.gouv.fr/bofip/8597-PGP.html |
| Late filing surcharge (CGI art. 1728) | 10% / 40% after formal notice / 80% hidden activity | 2026 | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000028312309/2026-10-24 |
| Late payment interest (CGI art. 1727) | 0.20% per month | 2026 | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000029355562/2026-10-24 |

**Surtax brackets** (BOFiP BOI-RFPI-TPVIE-20, PV = taxable gain after the income tax allowance): 50,001 to 60,000: 2% x PV - (60,000 - PV) x 1/20; 60,001 to 100,000: 2% x PV; 100,001 to 110,000: 3% x PV - (110,000 - PV) x 1/10; 110,001 to 150,000: 3% x PV; 150,001 to 160,000: 4% x PV - (160,000 - PV) x 15/100; 160,001 to 200,000: 4% x PV; 200,001 to 210,000: 5% x PV - (210,000 - PV) x 20/100; 210,001 to 250,000: 5% x PV; 250,001 to 260,000: 6% x PV - (260,000 - PV) x 25/100; above 260,000: 6% x PV.

**When the CSG rise applies.** LFSS 2026 (loi n° 2025-1403), art. 12, raised the CSG on capital income from 9.2% to 10.6% (CSS L. 136-8 I 2°). It applies to income assessed with income tax from the 2025 income year (gains on securities sold in 2025 and declared in 2026 bear 18.6%), and to income taxed at source (dividends, interest) from 1 January 2026. Property gains, rental income, life insurance and home savings stay at 9.2% CSG, so 17.2% in total (L. 136-8 IV). The same rule is in `fr-social-contributions`.

## The taxable base

**Gains on securities.** Shares, company shares (parts sociales) and fund units. Gain = sale price net of fees minus the adjusted acquisition basis and attributable acquisition fees. For a purchase or subscription, use the actual paid price reduced by income-tax reductions actually obtained under CGI art. 199 terdecies-0 A where that rule applies; for a gift or inheritance, use the value retained for transfer duties. Acquisition fees must relate to the securities sold, be actually borne by the taxpayer and evidenced, subject to the source's specific statutory flat-fee exception. Sources: CGI art. 150-0 D, 1, https://bofip.impots.gouv.fr/bofip/4212-PGP.html ; https://bofip.impots.gouv.fr/bofip/3648-PGP.html. Deduct all current-year losses first, up to same-year gains, then use carried-forward losses in oldest-year-first order, retaining each original vintage's ten-following-year expiry. Any unused current-year loss is carried forward against gains of the next ten years (CGI art. 150-0 D, 11; https://www.service-public.gouv.fr/particuliers/vosdroits/F21618). Report the taxable gain on the 2042 C box 3VG. For 2025 disposals declared in 2026, form 2074 is required unless the brochure's dispensation conditions are met: only one of its listed operation categories (securities disposals, or closure of a PEA before five years or after five years when the PEA is at a loss), all gains and losses calculated by the financial institutions, no enhanced holding allowance, and no acquisition/subscription income-tax reduction under CGI arts. 199 terdecies-0 A, 199 terdecies-0 A bis or 199 terdecies-0 A ter. Eligible gains and losses, including prior losses, can be netted on 2074-CMV, with any applicable ordinary holding allowance calculated on the positive remainder. A gain-only case can use 2074-ABT for an applicable ordinary holding allowance, then report gain and allowance on 2042 C. Ordinary allowances or prior losses alone do not force full 2074. The other cases, including bank-incomplete calculations or multiple listed operation categories, require 2074. Source: Brochure pratique 2026, printed p. 137, https://www.impots.gouv.fr/www2/fichiers/documentation/brochure/ir_2026/pdf_som/09-plus_values_137a156.pdf.

- **PFU or scale.** The PFU is the default. The household may opt for the progressive scale by ticking box 2OP (CGI art. 200 A, 2). The option is global: it covers all dividends, interest and gains on securities of the year. For income of 2025 it is irrevocable. For income of 2026 onwards, F2613 says it can be withdrawn within the claim period or during an audit. Crypto has its own option (box 3CN, `fr-crypto-tax`).
- **What the scale brings.** The 40% dividend allowance, the holding allowances on shares bought before 1 January 2018, the 6.8% deductible CSG, and the deduction of fees. Under the PFU, none of these. F2613: the scale helps at a marginal rate of 0% or 11%; at 30% or more the PFU rate is lower. At 30% with dividends, compute both. Band limits are in `fr-personal-income-tax`.
- **Holding allowances** apply only if the shares were bought before 1 January 2018 AND the scale is chosen. They cut the income tax base only, never the social levy base or the reference income (impots.gouv.fr, holding allowance on securities: "il n'est pas pris en compte pour les prélèvements sociaux ni pour le revenu fiscal de référence").
- **Retiring SME director.** The fixed allowance applies under the PFU or the scale, shares held at least one year, form 2074-DIR. It cannot be combined with the holding allowances. Each spouse or PACS partner taxed jointly gets their own allowance on their own shares, and an unused balance cannot pass to the other (impots.gouv.fr, retiring SME director: "Le reliquat d'abattement non utilisé par l'un des membres du foyer ne peut pas être utilisé par le second"). Social levies are due on the gain before the allowance. Other conditions of art. 150-0 D ter are not set out here: refer.

**Dividends and interest.** Dividends go in box 2DC (eligible for the allowance under the scale), interest in box 2TR, with no allowance on interest. The bank withholds 12.8% as an advance payment, credited on the return; a household whose reference income of the year before last (revenu fiscal de référence de l'avant-dernière année, F2613) is under the limits may ask to be excused by 30 November of the year before payment. Livret A, livret jeune, LEP and LDD(S) interest is exempt from income tax and social levies.

**PEA.** Payment ceilings apply to payments in, not to the plan's value. One classic PEA per adult domiciled in France. A withdrawal before the end of the 5th year closes the plan in principle (listed exceptions in F2385) and the net gain is taxed under the PFU or the scale, plus social levies; early withdrawals for death or to fund creating or taking over a business are exempt from income tax only. After 5 years gains are exempt from income tax; social levies are due at each withdrawal at the investment income rate of the year (18.6% in 2026), with special CSG rules for gains or payments from before 2018. Take the split from the bank's IFU form. Exempt income of unlisted shares in a PEA is capped each year at 10% of the acquisition value of those securities. Only securities the law lists may be held.

**Life insurance (assurance-vie).** Any total or partial withdrawal (rachat) is taxable on the gain it contains, as reported by the insurer on the IFU. The 8-year test runs from the contract date. The yearly allowance covers all contracts together and applies once on the return. The 7.5% rate after 8 years applies up to EUR 150,000 of premiums not repaid across all contracts; the gain linked to premiums above that is taxed at 12.8%. For premiums before 27 September 2017 the final withholding applies only if elected when paid; otherwise the gain goes to the scale. Income-tax relief requires the withdrawal or settlement to result from dismissal, early retirement, recognition of category 2 or 3 invalidity, or cessation of a non-salaried activity following judicial liquidation, affecting the subscriber or their spouse/PACS partner. It must occur by the end of the year following the event. Dismissal relief excludes an agreed termination (rupture conventionnelle) and expiry of a fixed-term contract. The qualifying invalidity case is also exempt from social levies; the other listed cases remain subject to them. Spreading withdrawals after 8 years within the yearly allowance lowers income tax, not social levies.

**Free shares (AGA) and RSUs.** Two amounts: the acquisition gain (value at final vesting) and the later gain on securities. Sale-time taxation of the acquisition gain applies to qualifying French allocations and foreign parent/subsidiary allocations made under identical qualifying conditions. Non-qualifying free allocations are taxed as salary at definitive acquisition, so a later sale does not postpone that event. Source: BOI-RSA-ES-20-20-20 § 90, https://bofip.impots.gouv.fr/bofip/5654-PGP.html. The regime is set by the date of the shareholders' meeting that authorised the plan: the table gives plans from 1 January 2018; plans before 28 September 2012 were taxed at a flat 30% (or the scale on option); plans from 28 September 2012 to 7 August 2015 are salary with the employee contribution; plans from 8 August 2015 to 31 December 2017 have their own rules on the impots.gouv.fr page. The EUR 300,000 limit is yearly across plans, with no carry-forward. A sale below the vesting value gives a loss set against the acquisition gain. Only plans under Commercial Code art. L. 225-197-1 ff. qualify; a foreign RSU plan that does not meet them is taxed as salary: refer.

**BSPCE.** Shares subscribed from 1 January 2025: the exercise gain (value at exercise minus grant price) is taxed at 12.8%, or the salary scale on option, with 3 years or more of service at sale; under 3 years, 30% with no option. The sale gain is under the PFU whatever the service, and the retiring director's allowance can apply. Before 1 January 2025: one gain on sale; granted from 2018 with 3 years or more, PFU or scale; under 3 years, 30% with no option and no fixed allowance; granted to 2017, 19% or 30% by length of service. The company must meet CGI art. 163 bis G.

**Stock options.** The exercise gain is taxed when the shares are sold and always declared on the 2042 C. From 28 September 2012: salary scale plus the levies and contribution in the table. The 10% employee contribution applies to gains on options granted since 16 October 2007 (impots.gouv.fr, stock options: "Les gains de levée d'options attribués depuis le 16 /10 /2007 sont également soumis à la contribution salariale de 10 %"). 27 April 2000 to 28 September 2012: salary if the lock-up was broken, flat rates if kept, salary on option. 20 September 1995 to 26 April 2000: gain on securities at a flat rate or salary on option. Before 20 September 1995: gain on securities if form and lock-up conditions were met. Options granted before 28 September 2012 bear 18.6% levies. The discount above 5% of the share value at grant is salary in the year of exercise (boxes 1TP or 1UP). The rise after exercise is a separate gain on securities.

**Employee savings and PER.** Employer payments into PEE, PERCO or a company PER are not unconditionally exempt: apply the actual plan-specific exemption or salary-deduction rules and annual limits. PEE employer matching is exempt only within its applicable cap; reinvested plan earnings have their own exemption conditions and social levies. Mandatory article 83/PERO contributions, including the employer's, use the capped salary-deduction framework and taxable-excess rule, rather than a blanket exemption. Verify the applicable plan, payment type, cap and provider statement; match caps follow the annual social security ceiling and are not printed here. Sources: https://www.service-public.gouv.fr/particuliers/vosdroits/F2142 ; https://bofip.impots.gouv.fr/bofip/5956-PGP.html. Illustrative OpenAccountants planning sequence, not a statutory priority and subject to actual eligibility and caps: PEE with match, then PERCO or company PER with match, then individual PER. A PER exit depends on the plan type, annuity or lump sum, timing, and whether payments were deducted: get the provider's split and model it with `fr-personal-income-tax`.

**Property gains.** Previously furnished-let property requires the separate depreciation-adjustment check in `fr-rental-income`; the unadjusted formula below does not settle that case. For a purchased property, gain = sale price minus purchase price, the purchase price raised by actual costs or a flat 7.5%, and by actual works or a flat 15% if held over 5 years (F10864). For a property received by gift or inheritance, replace the purchase price with the value retained for gift or inheritance duties; do not apply the purchase-only 7.5% input merely to that transfer-duty value. Source: CGI art. 150 VB, https://www.service-public.gouv.fr/particuliers/vosdroits/F10864. The income tax allowance and the social levy allowance run on different scales (table). Income tax 19% on the gain after the income tax allowance; social levies 17.2% on the gain after the social levy allowance. The surtax applies to the income tax base above EUR 50,000, not to exempt sales or building land. Exemptions: the main home at the time of sale (occupied most of the year), a sale price up to EUR 15,000, and others in F10864 (for example a first sale of another dwelling with the price reinvested in a main home). A non-resident EU or EEA national who was tax resident in France for at least two continuous years gets an exemption on one French dwelling up to EUR 150,000 of net gain, if sold by 31 December of the tenth year after leaving, or at any time if the seller has had free use of it since 1 January of the year before the sale (CGI art. 150 U, II, 2°). The notary computes, files form 2048-IMM-SD and pays the tax out of the sale price; the seller reports the gain the notary declared on the 2042 C.

## Deadlines and filing

| Step | Date or rule | Source |
|---|---|---|
| Return 2042, 2042 C, 2074 for income and disposals of 2025, online | 21 May 2026 (départements 01 to 19 and non-residents), 28 May (20 to 54), 4 June (55 to 976) | `fr-personal-income-tax` |
| Paper return | 19 May 2026 | same |
| Option for the scale (box 2OP) | On the return, within the filing deadline | F2613 |
| Advance payment excuse on dividends and interest | Request to the bank by 30 November of the year before payment | F2613 |
| Property gain | Form 2048-IMM-SD filed by the notary with the deed when it is registered or published, and the tax paid at that filing (CGI art. 150 VG, I, 1°; 150 VF); in other cases, within one month of the sale (150 VG, I, 4°). Gain then reported on the 2042 C | CGI art. 150 VG |
| Balance of income tax and levies | Debited from September 2026 (one debit up to EUR 300, else four) | `fr-personal-income-tax` |

Income and disposals of 2026 are declared in spring 2027 on the same forms.

## Penalties and interest

- **Late filing** of the 2042 or 2074: 10% surcharge; 40% if not filed within 30 days of a formal notice; 80% for a hidden activity (CGI art. 1728).
- **Inaccuracy:** 40% for a deliberate breach; 80% for fraudulent manoeuvres. Abuse of law under LPF L. 64 attracts 80%, reduced to 40% if the taxpayer was not established to be the principal initiator or principal beneficiary (CGI art. 1729).
- **Late payment interest:** 0.20% per month (CGI art. 1727), on top of any surcharge.
- **Capital-income CSG assessed with income tax:** 10% surcharge on amounts unpaid within 45 days after the roll is put into collection or the collection notice is notified; for taxes assessed for the current year it cannot apply before 15 September. Exclude amounts already increased under CGI art. 1729 G, 1 or 2. For individuals paying advances or balances electronically, an applicable ministerial order can postpone the surcharge date by up to 15 days: use its actual conditions and notice, not an automatic extension (CSS L. 136-6 III; CGI art. 1730(2), (5), https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000051219475).
- The details, thresholds and halving for a spontaneous correction are in `fr-personal-income-tax`.

## Cross-border points

- **Non-residents.** A gain on French property by a non-resident individual is taxed at 19% (CGI art. 244 bis A, I and 200 B), paid when the deed is registered or within one month of the sale. The accredited-representative requirement (244 bis A, IV) has automatic dispensations: the seller is domiciled, established or constituted in the EU or in Iceland/Norway under the relevant assistance conventions; the sale price is at most EUR 150,000 per seller; or the sale is fully exempt from both income tax and social levies by holding duration (22 and 30 years). The surtax applies to non-residents too (CGI art. 1609 nonies G, I). Gains on substantial holdings in French companies, social levies and treaty relief: use `fr-cross-border`.
- **Resident working in another EEA state or Switzerland and compulsorily covered by its social-security system:** exempt from CSG and CRDS; the 7.5% solidarity levy remains (F2329; CSS L. 136-6 I ter).
- **Foreign dividends and interest:** taxable in France; the foreign tax credit depends on the treaty. Refer with the treaty text.
- **Employee shares and mobility:** identify the employment activity remunerated by the allocation and the actual reference period, then apply the governing treaty's taxation conditions. The reference period runs from grant until the employee definitively owns the allocation right; with no suspensive condition it is the grant day, not the nominal vesting or retention interval. If a service or professional-performance condition applies, it runs until that condition is satisfied. Allocate only the remunerated activity taxable in the State under the applicable treaty; do not assume every calendar vesting day is an allocation day. Source: BOI-RSA-ES-20-20-20 §§ 60–90, https://bofip.impots.gouv.fr/bofip/5654-PGP.html; refer for the actual treaty/day computation.
- **Leaving France:** unrealised share gains can be taxed on departure (`leaving-france-exit-tax`).
- **Crypto-assets:** separate regime and separate option (`fr-crypto-tax`).

## Worked examples

**Example 1. Shares sold in 2025, flat tax.** A resident single person sold listed shares in 2025 with a net gain of EUR 10,000 and kept the PFU. Income tax 10,000 x 12.8% = 1,280. The disposal is from 2025, so social levies are 18.6%, not 17.2%: 10,000 x 18.6% = 1,860. Total 3,140, declared in May 2026 on the 2042 C box 3VG.

```oa-check
name: FR securities gain 2025 under the PFU
inputs:
  gain: 10000
steps:
  - income_tax: gain * 0.128
  - social_levies: gain * 0.186
  - total: income_tax + social_levies
expected:
  income_tax: 1280.00
  social_levies: 1860.00
  total: 3140.00
```

**Assessment qualification for the preserved property illustration below.** Its cents are unrounded worksheet amounts, not proof of the exact taxes remitted by the notary. CGI art. 1724 rounds liquidation to the nearest whole euro, with EUR 0.50 up, at the calculation of each tax. Apply this to the actual separate tax/levy assessment units and notary statement before summing the payable amount; do not infer levy aggregation from the raw combined example. If EUR 18,256.08 is an actual single tax assessment unit, it rounds to EUR 18,256. Source: https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000006312863.

**Example 2. Second home sold in 2026 after 12 full years, with surtax.** Net taxable gain before allowances EUR 120,000 (price minus purchase price and the flat 7.5% and 15%). Years 6 to 12 count, so 7 years. Income tax allowance 7 x 6% = 42%, base 120,000 x 58% = 69,600, tax at 19% = 13,224. Social levy allowance 7 x 1.65% = 11.55%, base 120,000 x 88.45% = 106,140, levies at 17.2% (property gains stay at 17.2%) = 18,256.08. The income tax base is above EUR 50,000 and in the 60,001 to 100,000 bracket: surtax 2% x 69,600 = 1,392. Total 32,872.08, paid by the notary.

```oa-check
name: FR property gain 2026, 12 years held, surtax bracket 2%
inputs:
  gain: 120000
  years_over_5: 7
steps:
  - it_base: gain * (1 - years_over_5 * 0.06)
  - income_tax: it_base * 0.19
  - ps_base: gain * (1 - years_over_5 * 0.0165)
  - social_levies: ps_base * 0.172
  - surtax: it_base * 0.02
  - total: income_tax + social_levies + surtax
expected:
  it_base: 69600.00
  income_tax: 13224.00
  ps_base: 106140.00
  social_levies: 18256.08
  surtax: 1392.00
  total: 32872.08
```

### Preserved planning illustrations

**2025 dividends at an assumed 30% marginal rate.** The earlier Guide compared EUR 10,000 dividends: PFU income tax EUR 1,280 plus 17.2% social levies EUR 1,720 gives EUR 3,000. Under the scale, assuming eligible dividends, the whole EUR 6,000 base after the 40% allowance falls at 30%: income tax EUR 1,800 plus social levies EUR 1,720. If the full EUR 680 deductible CSG reduces income taxed at 30% in the year it is paid, its tax benefit is EUR 204 and the combined burden is EUR 3,316. PFU is EUR 316 lower on these declared assumptions. This is a conditional comparison, not a household computation or a promise of an N+1 deduction; the CSG is deducted in its payment year and the scale election covers all relevant household income.

**Life-insurance cash planning.** The earlier illustration required EUR 50,000 over five years, or EUR 10,000 per year. For a jointly taxed couple with eligible contracts at least eight years old, each year’s income-tax relief can cover only the gain portion within the EUR 9,200 annual allowance across all contracts. Ask the insurer for the premium/gain split of each withdrawal. EUR 10,000 cash is not EUR 10,000 taxable gain, and the allowance does not reduce social levies. This cash-needs illustration supplies no assumed contract return, premium history or guaranteed tax saving.

## Ask the client first

- For each sale, dividend or interest payment: what was it, and in which year was it received or sold? (Type and year set the levy rate: 17.2% or 18.6%.)
- Do you want the progressive scale, and what is the household's full income and marginal rate? (The option covers all investment income and gains of the year.)
- For shares: bought before or after 1 January 2018, any losses from the last ten years, and are you a retiring SME director?
- For employee shares: date of the shareholders' meeting, French-qualifying plan or not, subscription date, years of service at sale, and did you move country during vesting?
- For a PEA or life insurance: opening date, premium dates (before or after 27 September 2017), total premiums across contracts.
- For property: main home at the time of sale, years held, actual costs and works, and the notary's 2048-IMM-SD.

Defaults while waiting (OpenAccountants working practice): PFU, not the scale; PEA under 5 years; no life insurance allowance; no main-home exemption until occupation is shown; BSPCE under 3 years of service; free shares under the salary rules until the plan is checked.

Refer: non-residents; foreign tax credits; non-qualifying or cross-border employee share plans; BSPCE where the company's eligibility is in doubt; management packages (salary above a limit since 15 February 2025, line 1MP); the retiring director's conditions; PEE match caps and PER exit computations; deferred gains (report d'imposition), carried interest, futures, professional traders; property sold by a company or dealer, and building land.

Key law: CGI art. 200 A (PFU), 158 (dividend allowance), 150-0 A to 150-0 D ter (securities), 80 quaterdecies (free shares), 163 bis G (BSPCE), 80 bis (stock options), 163 quinquies D and CMF L. 221-30 (PEA), 125-0 A (life insurance), 150 U to 150 VH and 200 B (property), 1609 nonies G (surtax); CSS L. 136-6 to L. 136-8; LFSS 2026 art. 12; Code du travail L. 3332-1 ff. (PEE).

## Sources

| Source | URL | Read on |
|---|---|---|
| service-public.gouv.fr F2329, social levies on capital income (Vérifié le 30 juin 2026) | https://www.service-public.gouv.fr/particuliers/vosdroits/F2329 | 2026-10-26 |
| service-public.gouv.fr F2613, investment income and PFU (Vérifié le 15 avril 2026) | https://www.service-public.gouv.fr/particuliers/vosdroits/F2613 | 2026-10-26 |
| service-public.gouv.fr F10864, property gains (Vérifié le 15 avril 2026) | https://www.service-public.gouv.fr/particuliers/vosdroits/F10864 | 2026-10-26 |
| BOFiP BOI-RFPI-TPVIE-20, surtax on property gains (CGI art. 1609 nonies G) | https://bofip.impots.gouv.fr/bofip/8597-PGP.html | 2026-10-26 |
| impots.gouv.fr, holding allowances on gains on securities | https://www.impots.gouv.fr/particulier/questions/jai-realise-des-plus-values-ai-je-droit-un-abattement-pour-duree-de-detention | 2026-10-26 |
| impots.gouv.fr, Brochure pratique 2026, plus-values (2074, losses ten years) | https://www.impots.gouv.fr/www2/fichiers/documentation/brochure/ir_2026/pdf_som/09-plus_values_137a156.pdf | 2026-10-26 |
| impots.gouv.fr, Brochure pratique 2026, nouveautés (CSG timing) | https://www.impots.gouv.fr/www2/fichiers/documentation/brochure/ir_2026/pdf_som/nouveautes.pdf | 2026-10-19 |
| impots.gouv.fr, Brochure pratique 2026, revenus des capitaux mobiliers | https://www.impots.gouv.fr/www2/fichiers/documentation/brochure/ir_2026/pdf_som/08-RCM_121a136.pdf | 2026-10-19 |
| impots.gouv.fr, Brochure pratique 2026, traitements et salaires | https://www.impots.gouv.fr/www2/fichiers/documentation/brochure/ir_2026/pdf_som/06-traitements_salaires_85a114.pdf | 2026-10-19 |
| impots.gouv.fr, retiring SME director | https://www.impots.gouv.fr/particulier/questions/dirigeant-de-pme-partant-la-retraite-comment-sera-imposee-la-plus-value-que-je | 2026-10-19 |
| impots.gouv.fr, free shares | https://www.impots.gouv.fr/particulier/questions/mon-entreprise-ma-attribue-des-actions-gratuites-comment-sera-impose-le-gain | 2026-10-19 |
| impots.gouv.fr, BSPCE | https://www.impots.gouv.fr/particulier/questions/jai-vendu-des-bons-de-souscription-de-parts-de-createurs-dentreprise-ou-bspce | 2026-10-19 |
| impots.gouv.fr, stock options | https://www.impots.gouv.fr/particulier/questions/jai-des-stock-options-comment-est-impose-le-gain-levee-doptions | 2026-10-19 |
| service-public.gouv.fr F2385, PEA | https://www.service-public.gouv.fr/particuliers/vosdroits/F2385 | 2026-10-19 |
| service-public.gouv.fr F22414, life insurance | https://www.service-public.gouv.fr/particuliers/vosdroits/F22414 | 2026-10-19 |
| Légifrance, CGI art. 1728 | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000028312309/2026-10-24 | 2026-10-24 |
| Légifrance, CGI art. 1727 | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000029355562/2026-10-24 | 2026-10-24 |
| Légifrance, CGI art. 1729 | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000020051904/2026-10-24 | 2026-10-24 |
| Légifrance, loi n° 2025-1403 (LFSS 2026), art. 12 (CSG 10.6%, IV list at 9.2%, start dates) | https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000053226384 | 2026-10-26 |
| Légifrance, CGI art. 200 A (PFU 12.8%, global option) | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000053546896 | 2026-10-26 |
| Légifrance, CGI art. 200 B (19%) | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000030061684 | 2026-10-26 |
| Légifrance, CGI art. 150 U (exemptions) | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000053544910 | 2026-10-26 |
| Légifrance, CGI art. 150 VC (duration allowance, income tax) | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000047970756 | 2026-10-26 |
| Légifrance, CGI art. 150 VG (2048-IMM filing) | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000027978330 | 2026-10-26 |
| Légifrance, CGI art. 1609 nonies G (surtax brackets) | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000048806252 | 2026-10-26 |
| Légifrance, CGI art. 244 bis A (non-residents) | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000048806274 | 2026-10-26 |
| Source checks, 29 October 2026: precise life-insurance gates/social exception, stock-option bands, inclusive enhanced holding thresholds and representative dispensations; actual selected clauses only | https://www.impots.gouv.fr/particulier/lassurance-vie-et-le-pea-0 ; https://bofip.impots.gouv.fr/bofip/11400-PGP.html ; https://www.impots.gouv.fr/international-particulier/questions/je-vends-un-bien-immobilier-comment-et-quel-taux-suis-je-impose | 2026-10-29 |

| Source | URL | Read on |
|---|---|---|
| Selected rechecks, acquisition/gift bases and costs, oldest-loss order, unlisted PEA denominator, plan-specific payment conditions and AGA timing/mobility; CGI arts. 150-0 D, 150 VB, 81/83, 80 quaterdecies | https://bofip.impots.gouv.fr/bofip/4212-PGP.html ; https://bofip.impots.gouv.fr/bofip/3648-PGP.html ; https://www.service-public.gouv.fr/particuliers/vosdroits/F21618 ; https://www.service-public.gouv.fr/particuliers/vosdroits/F10864 ; https://www.service-public.gouv.fr/particuliers/vosdroits/F22449 ; https://www.service-public.gouv.fr/particuliers/vosdroits/F2142 ; https://bofip.impots.gouv.fr/bofip/5956-PGP.html ; https://bofip.impots.gouv.fr/bofip/5654-PGP.html | 2026-10-31 |
| CGI arts. 1730 and 1724, exact late-payment conditions and per-tax whole-euro liquidation; actual retained official rendered law, not original HTML | https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000051219475 ; https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000006312863 | 2026-10-31 |
| Brochure pratique 2026, printed p. 137; actual original PDF page viewed, complete two-column 2074 dispensation/CMV/ABT passage, not the scrambled extraction alone | https://www.impots.gouv.fr/www2/fichiers/documentation/brochure/ir_2026/pdf_som/09-plus_values_137a156.pdf | 2026-10-31 |

Not yet confirmed: the CGI text of art. 150-0 D (holding allowances, ten-year loss carry-forward) and the social levy duration allowance scale read on Légifrance (figures from impots.gouv.fr and F10864); the EUR 15,000 sale price exemption in the code text; the social levies on non-residents' property gains; employee savings match caps; PER exit computation; the free-share regime for plans of 8 August 2015 to 31 December 2017; the conditions of the retiring director's allowance.

## Today's figures and who stands behind this skill

This file is an AI skill (tax rules your AI follows) from OpenAccountants, copied on 2026-10-31. Rates, thresholds and deadlines change. For the current version of this skill, its official sources and the named accountant (if any) who stands behind it, call `get_skill` with slug `fr-capital-gains` on the OpenAccountants connector (https://www.openaccountants.com/connect), or read https://www.openaccountants.com/skills/fr-capital-gains. If neither is available, confirm every figure against the official source pages cited above before relying on it.