IFI debtors benefit from a 30% allowance on the market value of their principal residence.
However, this allowance does not apply when the principal residence is housed in a SCI.
This solution is confirmed by the Constitutional Council in a decision of January 17, 2020, which, having been seized of a QPC, considers that the difference in treatment, based on a difference in situation between a property and a partner in a SCI, is in accordance with the Constitution (decision no. 2019-820 QPC of January 17, 2020).
Indeed, the Wise Men recall that the property held by a SCI is its own property. It follows that the partners do not have the rights attached to the status of owner, even when they hold all the shares. Moreover, the value of the shares held in a SCI is not necessarily the same as the value of the real estate owned by it. It may therefore be subject to specific valuation rules.
The situation is different for SCIs under the attribution rules provided for in Article 1655 ter of the French General Tax Code, since these companies are deemed not to have a personality distinct from their members, and may therefore be eligible for the 30% allowance.
This decision is made in the context of article 885 S of the CGI regarding Wealth Tax, but applies for the IFI since article 973, I-al. 2 retains the same rule.