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Selling inherited business in Poland. How to do this properly? Advice needed please.


Mrs T
1 Aug 2017 #1
Hi-I am selling a restaurant/bar with 3 flats, lovely location in Rytel for half price as it is inherited and no use to me. Has been empty while Will was approved by Poland courts. Previously to that it was successful business. I am English and do not speak Polish and a Polish in-law in Poland is helping me but I would like to advertise the property to Poles in England who are maybe thinking of returning to Poland - could someone advise me on how best to do this please. Many thanks. Please be aware that this is a genuine opportunity for someone and in no way a scam.
polinv
1 Aug 2017 #2
You can use Rightmove or Zoopla, but any Pole which keeps an eye on whats happening back in his home country uses otodom.pl or gratka.pl. I sold a building to a Pole based in the UK through one of those online listing sites I mentioned. Regarding the price, be careful since the tax office will come after you if the price is deemed to far below market price. You will need to pay capital gains tax on the property and a lower price means lower income for the inland revenue. Here in Poland they are allowed to revalue the property at market price (if they can prove it) and demand the lost tax. You will need to pay around 8% interest on arrears and they have 5 full business years to look at the paperwork. So any demands could be quite substantial. Gains on capital are around 19.5% but it does depend on the individual situation. In the case of an inheritance, the purchase price is zero, so again any tax will be a substantial part of the sale. I dont have your details but it would be best to provide a list of these questions and others (do a simulation price and provide all acquistion details etc) for the in-law to take to the tax office since you say you cannot speak Polish. Its possible you may be able to get help from the consulate in the UK near you.
OP Mrs T
2 Aug 2017 #3
THANK YOU.


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