In summary…
No, there's no income tax if the conditions are met, but there are social security contributions. A self-employed osteopath is selling their practice. €60,000 (of which €56,000 of clientele created by him) realizes €56,000 of capital gains. Without exemption, it costs €7,168 tax at 12.8 % (article 39 quindecies of the General Tax Code, abbreviated CGI) and €10,416 of social security contributions at 18.6 %, i.e. €17,584 That leaves €42,416. If he has been practicing since 5 years at the very least, cease all functions in the firm being sold and exercise their retirement rights within 24 months before or after the sale (Article 151 septies A of the French General Tax Code), the tax falls at €0 and there remains €49,584. Two other exemptions exist without retirement conditions: based on income (article 151 septies, total up to €90,000) and according to the price (article 238 quindecies, total under €500,000The micro-BNC does not change this system.
1. The practice is being sold, and the price represents a professional capital gain in the form of non-commercial profits (BNC).
Osteopathy is a regulated liberal profession. The public business service lists it among the professions covered by the Interprofessional Pension and Old-Age Insurance Fund (CIPAV), and indicates that self-employed individuals who make a profit are subject to income tax in the category of non-commercial benefits (BNC). The Cipav list also includes osteopaths. The Official Bulletin of Public Finances (BOFiP) treats the liberal clientele as a transferable asset, without specific rules for osteopathy: capital gains follow the rules for professional capital gains, with reference to article 93 quater of the CGI (BOI-BNC-BASE-30-30-10).
- The clientele is not depreciable. Held for 2 years or more, it generates a capital gain. long term, removed from the income tax scale and taxed at 12.8%, plus social security contributions. For a client base built up by the osteopath, the initial value is zero: the entire price is capital gain. For a client base purchased, the purchase price is deducted.
- The furniture, the manipulation table, and the computer equipment are amortized. The capital gain is to short term The short-term portion is added to profit and taxed according to the income tax scale, from 0 to 45%, plus 18.6% in social security contributions. In the event of business closure, this portion is not spread over several years and is taxed immediately (BOI-BNC-BASE-30-30-10, § 100).
- The walls, If the osteopath owns the premises: capital gains on real estate are excluded from the retirement exemption and follow a different regime.
2. Three possible exemptions, three rationales
| Retirement (151 septies A) | Recipes (151 septies) | Price (238 quindecies) | |
|---|---|---|---|
| Retirement required? | Yes: a pension that begins within 24 months before or after the sale. The period is measured from the start of the pension, not from the date of the application. | No | No |
| Duration of activity | A minimum of 5 years, calculated from the effective start of activity. | Minimum 5 years professionally | minimum 5 years |
| Numerical criterion | None: regardless of the price | Average of the pre-tax revenue for the two calendar years preceding the end of the financial year of the sale: total up to €90,000, partial up to €126,000 according to (€126,000 − revenue) ÷ 36,000, zero beyond that | Price of the transferred items: total under €500,000, partial up to €1,000,000 according to (€1,000,000 − price) ÷ 500,000 |
| What is being given away | All the elements involved in the business: a partial transfer is generally refused. | Applies to net capital gains from the disposal of fixed assets. | The company or a complete branch of activity. The clientele alone is excluded; in a sole proprietorship, the condition is deemed fulfilled if a third party continues the activity in the same manner. |
| Link with the buyer | No more than 50% of the purchaser's voting rights or profits, at the time of sale and during the following 3 years | Not provided for in the texts consulted | No more than 50 % of the rights or direction of the purchaser, at the time of sale and during the 3 years following; written option |
| Social charges | Remaining amounts due | The BOFiP allows the exemption rate to be used for the social security contribution base (example from § 310) | Not covered by the BOFiP consulted: to be checked before sale |
| Cumul | Can be combined with 151 septies and 238 quindecies | Not cumulative with 238 quindecies | Not valid in conjunction with Article 151 septies |
Regarding the retirement rule, the seller must cease all functions within the company being sold. The BOFiP (Official Bulletin of Public Finances) allows for an activity self-employed Working as a consultant for the transferred company is subject to the rules governing combining employment and retirement benefits: a salaried or managerial position results in the loss of the exemption (BOI-BIC-PVMV-40-20-20-30, § 50). The transferred company must be a small or medium-sized enterprise, which is generally the case for a sole proprietorship.
For the rules related to revenue, the revenue of a self-employed individual (BNC) without opting for accrued receivables is that received, excluding taxes, during the two calendar years preceding the year of the sale. This excludes exceptional revenue such as the sale of fixed assets (BOI-BIC-PVMV-40-10-10-20, § 210 and 500). The BOFiP recommends applying the exemptions in the order of Article 151 septies B, Article 151 septies A, and then Article 151 septies (BOI-BIC-PVMV-40-10-10-30, § 300).
3. Calculation based on a cabinet sold for €60,000
Typical case
Situation. A 66-year-old osteopath, who has been practicing independently in Lyon for 33 years, operating under his own name and with controlled income tax, is selling his practice. €60,000 to a colleague (price used as a calculation assumption). His average revenue is €100,000 per year (assumed), above the €83,600 threshold for the micro-BNC tax regime. He built his client base: the €56,000 from the client base represents pure capital gains. The furniture and equipment are sold for €4,000, at their net book value, therefore without capital gains: the total capital gain is €56,000, which we assume is entirely long-term. The sale is signed on March 31, 2027.
Issue. Without exemption, income tax is €56,000 × 12.8 % = €7,168 and social security contributions of €56,000 × 18.6 % = €10,416, i.e., €17,584 (29.3% of the price). The draft agreement stipulates that there will be a 12-month salaried position remaining with the acquired firm. A salaried position within the transferred company is incompatible with Article 151 septies A.
Strategy. He replaces his salaried position with a self-employed consulting role, permitted by the BOFiP (French Official Tax Bulletin) subject to the rules for combining employment and retirement benefits, and sells the entire practice (clientele, furniture, equipment, and any lease). Regarding the timeline, the CIPAV (French Pension Fund for Liberal Professions) sets the pension effective from the first day of the month following the application: an application filed on May 12, 2027, grants a pension starting June 1, 2027, i.e., 62 days after the sale. The deadline is March 31, 2029. He then combines Article 151 septies A and Article 151 septies: his revenue of €100,000 results in an exemption rate of (€126,000 − €100,000) ÷ €36,000 = 72.22%.
Result. Income tax: €0, either €7,168 saved. Social security contributions are levied on €15,556 if the exemption rate of Article 151 septies is applied to the social security contribution base, as in the example from the BOFiP: €2,893. The internet is... €57,107, compared to €42,416 without exemption. If the social security base is not reduced, the net amount is €49,584. Transfer costs and any business debts are not deducted.
| Office sold for €60,000 (capital gain of €56,000) | Income tax | Social security contributions (18.6 %) | What remains for the osteopath |
|---|---|---|---|
| No exemption applicable | €7,168 | €10,416 | €42,416 |
| Retirement within 24 months, entire practice, no further functions (151 septies A alone) | €0 | €10,416 | €49,584 |
| No pension, average earnings of €100,000 (151 septies alone, rate of 72.22 %) | €1,991 | €2,893 (reduced tax base) | €55,116 |
| Retirement and income of €100,000 (Article 151 septies A then Article 151 septies) | €0 | €2,893 (reduced tax base) | €57,107 |
| No retirement, entire practice taken over as is, price under €500,000 (238 quindecies) | €0 | Not covered by the BOFiP | Between €49,584 and €60,000 |
At the rate of 17.2% cited in the official information sheet on retirement, social security contributions without reduction of the tax base amount to €9,632, and the net amount for the "retirement only" line item is €50,368, compared to €43,200 without exemption. With average revenues of €80,000 (at most €90,000), Article 151 septies exempts the capital gain in full: the BOFiP (Official Bulletin of Public Finances) then indicates that combining this with the retirement scheme is not advantageous, either for income tax or social security contributions (§ 300).
These calculations assume a fully long-term capital gain and equipment sold at its net book value. Equipment already depreciated and sold for €4,000 would generate a short-term capital gain of €4,000: €744 in social security contributions and, at a marginal rate of 30% (as assumed), €1,200 in income tax, the latter eliminated by Article 151 septies A. A sale concluded without complying with the conditions cannot be rectified: these conditions must be checked before signing.
4. And what about micro-BNC?
The micro-BNC regime is the special tax regime for self-employed professionals whose revenue remains below €83,600 (the 2026 threshold indicated by the French tax authority for businesses, verified on May 13, 2026). It does not change the capital gains tax treatment: capital gains from the sale of assets or the transfer of clientele are excluded from revenue declared under the micro-BNC regime, are subject to standard tax rules, and are determined according to Article 93 quater of the French General Tax Code (BOI-BNC-DECLA-20-20, §§ 10, 50, and 70). For depreciable assets, the standard allowance of 34% is deemed to take into account straight-line depreciation, which reduces the original value of the equipment (§ 80).
In practice, an osteopath operating under the micro-BNC regime has a maximum revenue of €83,600: this falls below the €90,000 threshold of Article 151 septies, provided they have been in business for five years. Their capital gain is therefore exempt from income tax, whether or not they retire. The official guidelines consulted do not specifically address the sale of a micro-entrepreneur's business: the capital gains declaration and any applicable tax options should be reviewed with a chartered accountant.
5. Registration fees on the transfer of clientele
The sale of a business or client base is subject to registration fees, which are in addition to capital gains tax. The combined rate of state tax, departmental tax, and municipal tax is 0% up to €23,000, from 3% from €23,000 to €200,000 and from 5% Beyond that, with a minimum charge of €25 (BOI-ENR-DMTOM-10-20-20; impots.gouv.fr). They are calculated on the price plus charges, or on the market value if it is higher. On a property value of €60,000, they reach a maximum of €1,110 (1.8 % of the price): €37,000 × 3 %, including €740 state tax, €222 departmental tax, and €148 municipal tax. This calculation assumes that the furniture is included in the total taxed price.
The texts consulted do not specify which party bears these rights: the transfer agreement stipulates this. They are payable before the registration of the deed, within a period of one month (BOI-ENR-DMTOM-10-20-30). They are not included in the table in the previous section, which starts with the price received by the transferor.
6. Five pitfalls to avoid before signing
- Missing the retirement deadline. The pension must begin within 24 months before or after the sale. With a sale on March 31, 2027, an application submitted on March 20, 2029, would grant a pension starting April 1, 2029, one day after the March 31, 2029 deadline; therefore, the application must be submitted no later than February 2029. A three-year exception applied to departures from 2019 to 2021 that preceded the sale; this exception no longer applies.
- Remain an employee or manager of the acquired firm. Only self-employed consulting work is permitted, subject to the rules governing combining employment and retirement benefits. At Cipav, the application requires ceasing both salaried and self-employed activities, unless the combined employment and retirement benefits scheme applies.
- To sell only part of the firm. The BOFiP (French Official Tax Bulletin) generally rejects Article 151 septies A when some of the assets used in the business are retained, and the lease alone does not qualify for this regime. For Article 238 quindecies, the transfer of goodwill alone is excluded. Obsolete equipment may not be transferred if the transferor can demonstrate its obsolescence.
- Getting the revenue period wrong or exceeding €126,000. Article 151 septies is calculated based on the two calendar years preceding the sale and no longer applies to revenues exceeding €126,000. Choosing Article 238 quindecies, by written option when filing the tax return, excludes Article 151 septies.
- Forget about social security contributions. The retirement exemption eliminates income tax, but not social security contributions (French Council of State, October 12, 2018, No. 401292). The rate must be confirmed by the chartered accountant before signing: the service-public.gouv.fr website displays 18.6% in its general sections and 17.2% in the section on retirement.
7. What if the osteopath practices in a company?
In a company subject to corporation tax, the partner does not sell a customer base but rather... company shares. For a retiring executive, Article 150-0 D ter of the French General Tax Code (CGI) provides for a fixed allowance of €500,000 This applies to capital gains only, for income tax purposes. According to the tax authorities, the company must be a small or medium-sized enterprise that has been continuously operating for the 5 years preceding the sale; the manager must sell all their shares, have held them for at least one year, have managed the company with at least 25% of voting rights or profits for 5 years, and cease all management or employee functions within the company within 2 years before or after the sale. Form 2074-DIR is used to request this.
| Company shares (hypothesis) | Gain | Abatement | Taxable base | Income tax at 12.8 % | Social security contributions at 18.6 % |
|---|---|---|---|---|---|
| Gain of €56,000 | €56,000 | €56,000 | €0 | €0 (€7,168 avoided) | €10,416 |
Social security contributions remain due on the gain before any allowance. The tax authorities indicate that the scheme has been extended until December 31, 2031 by Article 70 of the 2025 Finance Law; the instructions for the 2074-DIR tax return for 2025 income still give, for sales, the period from January 1, 2018 to December 31, 2024: the sale date should be verified before signing.
8. What to do with the capital after the sale?
In this typical scenario, the net capital is at least €49,584 before transfer fees, and the CIPAV pension only replaces part of the earned income. The investment addresses three needs: supplemental income, inheritance planning, and liquidity. Common solutions include: shares in real estate investment companies (SCPIs), life insurance and furnished rental property under the non-professional furnished rental scheme (LMNP). As a calculation hypothesis, a distribution of 4 % per year on €49,584 would represent €1,983 gross per year, and not a promise of return.
A payment on an individual retirement savings plan This is deducted from taxable profit according to the tax brackets, up to a limit equal to the higher of 10 % of the previous year's profit (capped at up to 8 times the Social Security ceiling) and 10 % of the previous year's Social Security ceiling. For a payment in 2027, this results in a minimum of €4,806 and a maximum of €38,448 (10 % of €48,060, then 8 times that amount). Any unused portion can be carried forward to the following 5 years (BOFiP of August 10, 2026). The long-term capital gain of 12.8 % is not subject to the tax brackets: this payment does not reduce the tax on it, but rather affects current profit. Details are available on our page PER deduction limit, and the other levers are brought together on our tax optimization page.
Frequently asked questions
What is the time frame between the sale of the practice and retirement?
For Article 151 septies A, the pension must begin within 24 months before or after the sale, and the osteopath must have practiced for at least 5 years. It is the pension start date that matters, not the application date. At CIPAV, according to their application file, the pension takes effect on the first day of the month following the application.
Is an osteopath in micro-BNC treated differently?
No, not for capital gains: they are excluded from micro-BNC revenue and are subject to the standard rules for business capital gains (Article 93 quater of the French General Tax Code). With revenue below €90,000, Article 151 septies exempts capital gains from income tax without any retirement requirement, provided the business has been operating for at least 5 years.
Can we continue working after the sale?
Self-employment within the acquired company, for example as a consultant, is permitted under the French Tax Administration's Official Bulletin (BOFiP), subject to the rules governing combining employment and retirement benefits. However, a salaried or management position within the acquired firm negates the exemption under Article 151 septies A.
Are social security contributions due on an exempt capital gain?
Yes, regarding the retirement-related exemption: the tax authorities specify that these contributions remain due. On a capital gain of €56,000, they amount to €10,416 at 18.6% of the % tax rate or €9,632 at 17.2% of the % tax rate, two rates cited in the official information sheet on business capital gains. The exemption based on revenue can reduce the social security contribution base, as in the example provided by the BOFiP (Official Bulletin of Public Finances); however, the BOFiP consulted does not address the exemption based on price.
How much does the osteopath keep after the sale?
In the typical scenario (practice sold for €60,000, €56,000 capital gain, before transfer costs and registration fees), the remaining amount is €42,416 without exemption, €49,584 with only the retirement-related exemption, and €57,107 if Article 151 septies is added, with revenues of €100,000 and a reduced social security base. These are calculation assumptions, not a result to be adopted as is.
Our position
We do not intervene in the transfer agreement or in the legal or accounting classification of the transaction: that is the responsibility of your lawyer and accountant. Our role begins before the sale, to coordinate the timing between the transfer, the end of your employment, and the start of your retirement, and continues afterward, to invest the capital with an income objective. We receive commissions on contracts taken out through our firm.
Book an exchange with Balmont Conseil
Alexis Sagnier, financial and real estate investment advisor, insurance broker, AMF certified. ORIAS 13003497. Updated on 28/10/2026.
Official sources consulted
- French Public Finances Directorate General, "I am selling my sole proprietorship to retire: is the capital gain taxable?" (updated 27/10/2026): impots.gouv.fr
- Directorate General of Public Finances, "As the head of a company subject to corporation tax, I am selling my shares to retire": impots.gouv.fr
- General Directorate of Public Finances, instructions for declaration 2074-DIR, 2025 income: impots.gouv.fr
- Directorate General of Public Finances, "Transfer of business assets" (registration fees: 0 %, 3 %, 5 %, minimum of €25): impots.gouv.fr
- Service-public.gouv.fr Entreprendre, «Taxation of professional capital gains» (12.8 %, social security contributions of 18.6 % and mention of 17.2 % in the retirement box, exemptions 151 septies, 151 septies A and 238 quindecies), verified on February 6, 2026: entreprendre.service-public.gouv.fr
- Service-public.gouv.fr, "Social security contributions on income from assets and investments" (18.6 % in 2026), verified on June 30, 2026: service-public.gouv.fr
- Service-public.gouv.fr Entreprendre, «Tax regime for micro-enterprises» (threshold of €83,600 in non-commercial profits for 2026), verified on May 13, 2026: entreprendre.service-public.gouv.fr
- Service-public.gouv.fr Entreprendre, "Regulated and unregulated liberal professions" (osteopath, CIPAV, BNC), verified on January 20, 2025: entreprendre.service-public.gouv.fr
- Cipav, "Who is insured with Cipav?" (list of professions, osteopaths): lacicav.fr
- Cipav retirement application file (pension takes effect on the 1st day of the month following the application; combining work and retirement), December 2024 edition: lacicav.fr
- BOFiP, BOI-BNC-BASE-30-30-10 (short term and long term, depreciation, spreading, rate of 12.8 %), version of 04/07/2018: bofip.impots.gouv.fr
- BOFiP, BOI-BNC-DECLA-20-10 (special reporting scheme, scope and threshold of €83,600 in the examples), version of 19/08/2026: bofip.impots.gouv.fr
- BOFiP, BOI-BNC-DECLA-20-20 (micro-BNC: capital gains excluded from revenue, article 93 quater, allowance of 34 %), version of 19/08/2026: bofip.impots.gouv.fr
- BOFiP, BOI-BIC-PVMV-40-10-10-20 (article 151 septies: duration of 5 years, calculation of revenue), version of 31/03/2021: bofip.impots.gouv.fr
- BOFiP, BOI-BIC-PVMV-40-10-10-30 (article 151 septies: thresholds of €90,000 and €126,000 for non-commercial profits, cumulative amounts, social security contributions), version of 23/07/2025: bofip.impots.gouv.fr
- BOFiP, BOI-BIC-PVMV-40-20-20-10 (article 151 septies A: liberal activity, duration of 5 years), version of 11/05/2022: bofip.impots.gouv.fr
- BOFiP, BOI-BIC-PVMV-40-20-20-20 (article 151 septies A: transfer of all elements, lease rights, obsolete equipment), version of 23/07/2025: bofip.impots.gouv.fr
- BOFiP, BOI-BIC-PVMV-40-20-20-30 (article 151 septies A: cessation of duties, self-employed activity, threshold of 50 %, retirement date), version of 23/07/2025: bofip.impots.gouv.fr
- BOFiP, BOI-BIC-PVMV-40-20-50 (article 238 quindecies: thresholds, coefficient, exclusion of customers only, absence of link, option, cumulative amounts), version of 23/07/2025: bofip.impots.gouv.fr
- BOFiP, BOI-ENR-DMTOM-10-20-20 (transfers of business assets and customer bases: tariff and liquidation), version of 19/06/2024: bofip.impots.gouv.fr
- BOFiP, BOI-ENR-DMTOM-10-20-30 (transfers of business assets and customer bases: formalities and recovery), version of 12/09/2012: bofip.impots.gouv.fr
- BOFiP, BOI-IR-BASE-20-50-20, limits on the deduction of retirement savings contributions (version of 10/08/2026): bofip.impots.gouv.fr
- Council of State, October 12, 2018, No. 401292 (social security contributions due on a capital gain exempt under Article 151 septies A).
- General Tax Code, articles 39 quindecies, 93 quater, 150-0 D ter, 151 septies, 151 septies A, 238 quindecies, 719 and 1584 to 1595 bis.
