LesLauriers
-
Posts
738 -
Joined
-
Last visited
Posts posted by LesLauriers
-
-
[quote user="allanb"][quote user="audio"]
Explications générales form 2047 states
’De la déclaration sont déterminés par rapport au revenu net de l’impôt étranger perçu’.
Unfortunately your quotation is incomplete; the whole sentence is
Les pourcentages portés dans les colonnes du tableau situés page 3 de la déclaration sont déterminés par rapport au revenu net de l’impôt étranger perçu.
It only refers to the method of calculating the tax credit (which doesn't apply to UK interest anyway).
FWIW, I also think Annett Consultancy is wrong - unless they're being somehow quoted out of context.
[/quote]If you were to credit Annett Consultancy with knowing what they are doing then perhaps they mean "declare the interest received after tax (net) then reclaim the tax and declare that when received" However, like yourself and a few others, I believe they are wrong, interest is not taxable in UK but is taxable in France and should be declared gross. The fact that the Banks / BS are not prepared to pay interest free of UK tax has no impact on what is due and where. -
[quote user="danny"]http://france.angloinfo.com/countries/france/moretax.aspthey seem not to agree.[/quote]They do disagree with the ISF return produced by the French Government, but what do you expect from Blevins Franks?
-
[quote user="danny"]Three possibilities are available, these are1. Make a detailed listing with attached values.2. Take your insurance valuation.3. Take 5% of the open market value of the property before the 30% deduction.Antiques etc are not counted.[/quote]It is 5% of your total taxable worth not 5% of your principle residence;From form2725:"Forfait immobilier EF = DE x 5%"DE is "Total des immeubles et des biens meubles : (DE = AB + AC + BK + CD + CE + CF + CG)
-
John. You should take note of Parsnips wise words.Lorna. If you want a (very looose) rule of thunb " Tax free in UK usually means taxable in France" if you start from that position you can only be pleasantly surprised.For example, Tessa's, Isa's, Pep's, Endowments, Pension lump sums, Premium Bond winnings, can all be taxable in France. Many people worry about French inheritance tax but as a French tax resident expat they may have more cause to worry about UK inheritance tax!There are however ways of investing in France which are tax efficient and the one piece of advice I would offer to all is to open an Assurance Vie in France, also treat any financial investment advice from the two big UK "French tax specialists" with a great deal of suspicion!Oh and if you line up 7 French tax inspectors and ask "what day of the week is it?" you can get 7 different answers, each one adamant that they are correct. Ask the same question of 7 different employees of CPAM and you may get 8 different answers.
-
"This is the first time that I have heard that the existence of UK policies needs to be declared."The 1999 Finance Law introduced the requirement to declare details with the tax return if you start, contribute to or withdraw from any non French life assurance policy.
-
Lorna. It all depends upon the question that is asked.
Did you ask
"Do i need to declare the existence of a UK based policy" or did you ask
"Do I need to declare profits withdrawn from a UK based policy"
The tax advantages of a French Assurance Vie policy do not apply to a UK policy unless the company providing it has offices in France and the policy is approved in France, so the "8 years old" has no relevance in this case which suggests a communication problem or a lack of understanding somewhere, however it all comes back to the question that is asked.
The answers to the above are;
Yes and yes, and any profit is taxable & subject to social charges in France, unless it was taken out before 1st Jan 83 or it meets other specific conditions.
As I understand it.
-
Judith, I think that you are missing the point!You do not apportion interest received, the taxable event occurs when the interest is paid to you and not when the interest is accrued.For example you recieve £100 interest after tax 2 days after you arrive in France, that interest accrued whilst you were a UK tax resident but received when you were a French tax resident, so you would declare £125 on the French tax return and claim back £25 from the UK tax man.Another example could be a 25 year endowment policy that matures 2 days after you arrive in France, it would be tax free in the UK but any profit would be taxable in France. Effectively taxing you on "interest" or "gain" credited to your policy at any time in the previous 25 years, because the taxable event (you being paid out) was after you became subject to French and not UK tax regulations.So in your case you only need to look at interest received since arriving in France.As for your internet Bank statements, you will have to print these off each month and keep them for the French tax man, should he ask to see them.
-
ParsnipsThe 1999 Finance Law requires all French residents to declare any investment into or withdrawal from a foreign life assurance contract.Only contracts entered into before 1st Jan 1983 are excempt from income tax and social charges.Withholding tax and abatements only apply to French contracts or foeign insurance companies with permanent establishments in France (French life assurance contracts).The EU were unhappy about this and tried to change things around 2001/2 to no avail. If you are aware of an update to this situation could you please point us in the direction of the information.Many thanks.Ron I have to agree the man in the connection is not to be trusted on this one!! Surprise surprise !
-
So, is that correct, annuities are "rentes viagères"?Yes, they are.
-
Judith: Its 152500€ per beneficiary.As an example of an AV:Investing 100,000€ with 0% charge and 0.6% annual charge in a capital safe investment, assuming 4.55% growth after charges and withdrawal of all interest each year .After 1 year you withdraw 4550€ in the AV wrapper the taxable amount is 198€ at your marginal rate plus 20€ social charge, compared to a non av investment where the taxable amount would be 4550€ at your marginal rate plus 500€ social charges.So within a year the tax benefits are obvious - remember that you are withdrawing 4550€ each year every year.The taxable amount will grow over the years and in year 8 the taxable amount is 1218€ at your marginal rate plus 134€ social charges. From year 9 onwards the 4600€ per person allowance kicks in and the taxable amount is 0€ plus 138€ social charges.Years 10 to 20 result in 0€ tax and social chages which increase each year from 150€ in year 10 to 260€ in year 20.Assuming that the rate of return stays at 4.55% which is of course variable, you still have 100,000€ in the account. If you have a substantial taxable income you may wish to be taxed at the forfait rates.An element of stock market investment could be included to counter the effects of inflation if you wish. The value of your investment etc, etc - always seek advice etc etc.
-
You should have Acer eRecovery Management on the PC which will walk you through the process. The default password is six zeros.See http://support.acer-euro.com/empowering_technology/dtutility.html
-
Quote;The partners are also taxed jointly for wealth tax, but in this casejoint liability takes effect in the first year of the pact. They bothsign the return and are jointly liable for payment of the tax and anysubsequent audits.SD, looking at "who" is liable to pay wealth tax it states.........un couple en situation de concubinage notoire: “le concubinage est une union de fait,caractérisée par une vie commune présentantun caractère de stabilité et de continuité, entredeux personnes, de sexe différent ou de mêmesexe, qui vivent en couple”.I take this to read, two people living together, even without a pacs, are still liable to assesment based upon their joint wealth. Any thoughts?
-
From Clair's post.....
- Your child is registered unemployed:
-
My understanding is that you will be subject to French inheritance tax and then UK inheritance tax, with any French tax being off set against UK tax.This will apply to all UK ex pats unless they formally renounce their UK domicile and terminate all financial ties with the UK.
-
On a blank piece of paper write the name and address of the bank / building society etc, then the name / names of account holders and account numbers.If you read your form 2042 it states "joignez la declaration no 3916 ou la liste des comptes sur papier libre"
-
Ernie, Worth taking a look at www.allopneus.com at 1.25€/£ they are within a euro of the site you used on the starter price and when comparing other brands. However at 1.45€/£ they are (were) a bit cheaper.www.123pneus .com is also worth a look when comparing prices. Locally I pay 30€ for fitting and balancing two tyres.
-
I remember reading a posting that sales, after 24th December, are carried forward to the following year for tax purposes.This would appear to confim the point.
-
Hoax.http://www.hoax-slayer.com/postcard-virus-hoax.shtml
-
[quote user="Tony F Dordogne"]One of the first things we did when we moved in was to change from the Tempo system, having seen the effect it had on families we knew before we arrived.[/quote]Like everything in life, there's always another side to the story, but rather than make emotive statements I'll simply show you the annual cost of electricity for us on Tempo, and then on Base and Heures Creuse using the same figures.Tempo 1374€ Base 2057€ Heures Creuse 2094€
-
It is available but you have to show a 2007 tax demand for 0€, as I recall.
-
£12109 @ 1.40€/£ = 16952€ on which you would pay 875€ in tax and 85€ in social charges.
-
It's an urban myth.see http://www.snopes.com/autos/law/ticket.asp
-
I suspect that what BF are saying, in a round about way, is that an expat is still liable to UK inheritance tax, unless they renounce their UK domicile (which takes 3 years after completion of DOM1) and cut off all ties with the UK including bank accounts. It's one that BF often bring up.
-
"Hence my puzzlement - why does your company believe they have to pay your cotisations here? That's what I cannot fathom."Because they have to!!!!!!!!!!!!!!!!You may be able to work here for a limited time but will have pay cotisations here after a period of grace, it has been covered many times on the forum, notably by Will. Try a search.Cooperlola - an E 109 is applicable if you work in UK and live in France, in this case the op is living and working in France albeit for a UK company. Based on Will's previous posts 46% social charges could apply.
Cheque Emploi system used by UK resident?
in French Finance
Posted