DraytonBoy
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Posts posted by DraytonBoy
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4 hours ago, Lehaut said:
If you're not a UK tax resident you'll get the 40% back, you have to declare the lump sum here but there is a fixed rate of tax (currently 7.5%) and a 10% allowance on the whole amount so the overall tax hit is really 6.75%.
I am a UK tax payer on a government pension, so think we would have to take the hit. Even if we could get the lump sum (which we don't want) where would we invest it to get the same level of increase a UK Pension fund gets?
Just to be clear, if you are a French tax resident but a UK tax payer then you can still get the 40% back.
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1 minute ago, anotherbanana said:
Plus social charges?
That depends on your personal circumstances I believe -
https://www.french-property.com/news/tax_france/pensions/
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3 hours ago, Lehaut said:
We have been fighting my wife's pension company for years. When she eventually wants to touch it they offer either annuity (no thanks) or you take the lot in cash with the 40% tax bill, no draw down or anything else offered. Her second pension plan offers draw down but will not accept the transfer of the other pension pot as it is "new business" as we live in Europe, despite her already having a plan with them for years before we left the UK. Once Covid dies down we have to go the UK to pay a financial advisor several thousand pounds to do the transfer on her behalf.
Yet every year they send all the bumf telling her all the options she has. And when you write to take them up they say its just the normal stuff they send every one, but does not apply to her. The Governments much vaunted reorganisation of the pension scheme is not compulsory, just advisory on pension companies.
My blood pressure soars just typing this.
If you're not a UK tax resident you'll get the 40% back, you have to declare the lump sum here but there is a fixed rate of tax (currently 7.5%) and a 10% allowance on the whole amount so the overall tax hit is really 6.75%.
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I've always thought the biggest threat to France is the French themselves. Macron is the 4th president I've experienced since moving here and just like his predecessors he's been unable to push through the radical changes that are desperately needed because the general public won't accept change of any description. They are programmed from birth to live a certain way and any attempt to alter this results in meltdown and protest such as the Gilet Jaune disruption in 2019 which ended in a climbdown from the government. Macron has already tried to head off similar protests over rising fuel and energy costs by handing out 100 euro bribes to a huge chunk of the population and promising price freezes until Spring next year which no doubt will be extended until just past the election date.
I cannot see any other result than another five more years of EM because the opposition is so fractured but it will be closer and more interesting this time.
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The French will target the fishing ports where UK trawlers land their catch as that is really what the dispute is all about.
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We have similar conversations with my retired in-laws in the UK as we do with retired friends here, they all live in their little protected 'bubbles' and cannot relate to what we have gone through as a couple who have moved here to work and raise a family. That's not a criticism, just reality.
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I've organised three Orange fibre installations this year, this is what I've noted -
They will send the Livebox to your home address.
The technicians will push for the easiest option for them when choosing the internal location of the new socket and it will need to be near an electric point to plug-in to the Livebox as the supplied fibre cable from the new socket is very short, don't let them bully you into drilling a hole in the wall if there's a chance it will fit through an existing gaine.
Our house is over 250m from the main fibre point in our hamlet and a team of four managed to hook up everything from there and install the internal box inside three hours so 60m should be a doddle.
Before you order from Orange check other providers - Free, SFR and Bouygues as they may be cheaper.
Do not pay the set-up fee as you can do everything yourself from changing the pass code to adding in booster boxes.
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I take it your passport wasn't stamped either leaving or coming back into France?
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We've just sold a UK property that we've owned for more than 30 years. HMRC have been informed of the sale as required but do we have to tell the Impots even if there is no CGT (plus-value) and if so how?
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Which part of the process are you struggling with?
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I've always thought that you couldn't disinherit children here with regard to property no matter whether the will was written under English law or not.https://www.french-property.com/guides/france/finance-taxation/inheritance/rights/surviving-spouse#:~:text=Accordingly%2C%20under%20French%20law%20the,the%20estate%20of%20their%20deceased.&text=Only%20that%20part%20of%20the,of%20their%20jointly%20held%20assets.
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[quote user="Catalpa"]We sold some land in the UK about 4 years ago. We advised tax office in France about the sum we received and the reason for it but we were told (and I can't remember or find the correct wording right now) that as the asset sold was 'fixed' in the UK - land, buildings, etc - any taxation would be levied by the UK tax authorities, not France. And that's what happened - the fact we were France-resident was irrelevant.What impact Brexit may have on taxation relating to future sales is way beyond me.[/quote]As a French tax resident you have to account for your 'worldwide' income which would include the profit on the sale of any asset such as land or property, if that wasn't the case why do you have to declare here the income from UK rents?
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The SCI won't just die a natural death, you have to formally close it and submit a final tax return. As for the consequences of doing nothing who knows, the authorities have your address in the UK I presume so they can easily track you down and use the UK courtsystem to come after you for any outstanding debt.
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Taper relief certainly does apply here but I don't think you can offset the loss against the profit. In addition you've got to notify HMRC of any sale regardless of whether you've made a profit or not, you could get fined if you don't.
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I know several holiday home owners who are going to apply for a CdS as a means of skirting the Schengen 90 day rule.
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I went to a stage last week and the atmosphere compared to a previous experience was muted to say the least, still an enjoyable couple of hours in the sunshine after a picnic in the countryside.
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For the first few weeks we had fish and chips from the local van here but as we always saw them as a 'treat' they lost their appeal and we've stopped having them.
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We effectively just have two mobile contracts, the first has a second sim and the 'airbox' with an 81 gb monthly limit and the other an 50 gb limit with free calls etc. The total cost is 45 euros a month which is nearly half what we were paying with Bouygues Telecom.
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With our mobile contract we've got free calls to landlines in over 100 countries.
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We've not a landline for three years. First we tried a Bouygues Telecom 4G box which was great to start with but for the best part of a year the connection would go in and out with a very slow speed when it did work. We've now ditched Bouygues and have a Sosh airbox which is part of Orange, this saves us 28 Euros a month.
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Trump or the Republican party should act and withdraw Kavanaugh as a candidate for the Supreme Court. He is now tainted and regardless of his innocence or guilt should not be considered for such an important position.
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According to TM the decision to destroy the evidence was taken by the Labour government in 2009.
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You do have to wonder what has happened to the 35k members that FE had/has. Can't believe some won't find their way over here.
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There is a growing trend to re-visit history and look again with 21st century eyes at events and people. In many southern states in the US statues of confederate generals are being taken down and across the country sports teams with names associated with Native American tribes are being encouraged to re-name.IMO why should learn from history not rip it to pieces.
This is just plain wrong. It is wrong on so many levels.
in The Complete France Post Bag
Posted
The UK troops in Poland have two roles - a small group of Royal Engineers are there at the request of Poland to advise on strengthening the border fence etc whilst a larger group is part of a NATO force of around 1000 troops from Poland, Romania, the US who are 'on manoeuvres', neither UK group is tasked with directly preventing the migrants from entering Poland.