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milkeybar kid

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Everything posted by milkeybar kid

  1. Thank you to all, very interesting replies. I think I have understood but-

    In a nutshell- would you think it will have the same status as The Isle of Man as far as Inheritance Tax goes? - ie : You can leave all to your siblings without your estate incurring penalty of taxes of sort's. [+o(]

  2. I read this on a BBC page - what does it mean to us all? - Up to 95% exempt from inheritance tax

    Lets say for eg when just one of us is left - after death could our daughter inherit all we have in France without a tax but what we cant understand is would  the UK Government take a tax from our daughters inheritance that came from France.Or have I got confused yet again! [Www]

     


     

  3. [I]Maybe our eg from accountant in Bergerac might help. He is French and helps a number of English in the area. This is for money held offshore. Form 2047 page2 B column1 he writes Isle of Man.In 2,3,4, he leaves blank. In column 5 he writes the figure in Euros after withholding tax has been taken out this figure also went on figure A+. In column 6 he chose (see chart on form 2047) Directive Espargne and wrote 18 (%) . Column 7 he wrote the exact withholding tax amount also in figure B+.  He added these A & B in the TS  then in the BG he wrote the withholding tax figure . All were transferred to corrosponding on form 2042K. Now we are off to  TT you wont find that on a Tax Form, only in IOM!!brumm brumm[Www]
  4. Isle of Man/ Jersey  withholding Tax option-your  opinion of interpretation?

     

    Isle of Man treasury states Quote- If a customer chooses the exchange of information option instead of withholding tax, details of the customers identity and residence, their paying agent, the level of savings income received and the period to which it relates will be reported to the local tax authority in the country which the account is held and then forwarded to the Tax authority of the country in which the customer is resident.

    In practice, banks and other paying agents in the IOM have been given the option to offer to customers the choice between the deduction of withholding tax and exchange of information. The position is therefore more flexible than many EU Member States, where no choice will be offered.

     (Rates  2005 July @15%. July 2008 July35%. July 2011 35%.)

    My question – is the above giving you the option of paying a withholding tax and not declaring eg: a savings account held in a bank in the IOM. If not then why is this option being offered – I just can’t fathom this as I thought you had to report all your world income. MBK[8-)]

  5. Thank you Sunday Driver - you have it in one . We have been declaring small gite buisness for 4 years  prior to state pension becoming available in 2006.The Tax office has always filled this in for us but was aware that the declaration of state pension had to be filled in "carefully". I will make the most of this spot to say how very much it is appreciated (I am sure by so many) how Sunday Driver delivers his replies as to be of help to one and all in a similar scenario's.
  6. Please, could some one tell me where is the exact box to put in my  basic state pension that only started July 2006 and because we have no other pension my wife who is below retirement age and is not working received some monies from Newcastle.

    The form is No 2042 .

    Thank you in anticipation.[blink]

  7. I have read this Q & A  on another forum , the bottom line is would you agree that there is notification to the Tax Authorities on amounts over 7000 Euro’s.[+o(]

     

    Does anybody know if there is a limit on the amount of money a person can bring into France from the Uk. I am talking of a combination of cash ( euros’ ) travellers cheques and possibly prepaid plastic. Info from books on the subject is conflicting and confusing. Any help would be appreciated.

     Reply

    Caution, because I believe that transactions over a specified amount are subject to closer scrutiny! You may receive an enquiry from your receiving bank as to the source of the funds transferred, the response being furnished to the Banque de France (& whoever else ...?).

     

    I think I have seen that if you transfer more then 7000 euros at one go they have to inform the tax office and the impot in france ,it is a new rule to stop the money laundering boys.[8-)]

  8. Hello,I have read peoples questions and answers for over 12 months very informative and thoroughly enjoyed the humour as well ,thought I would give a question a go.

     Do you think (subject line house in offshore company name) is a good idea?

    Can you envisage any problems?

     Also I wondered , lets say its you who” owned” the said property that was a registered in a company name offshore and then you  started doing work at the property would you not be classed as working on the black as you would not be the owner. I blame the rain for these thoughts cant get in the garden – if anyone out there could answer these questions before the sun comes out I would be chuffed, not that I am in position to do the above" buy house in company name offshore but I hear of people that do and then I ask why, cant quite find the answer.[8-)]

     

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