HOW MUCH TAX?

[Scorpion]

Sorry if this has already been covered on the Forum. In November I will be 65 and start to receive my state pension, so I decided that this would be a good time to start to draw a very small private pension that I started back in the 70s. It will only bring in an additional 25€ per week but every little helps! Which brings me to my question - I have the option to take part of the pension pot as a lump sum, which would be tax free in the UK - can anyone give me some idea of what percentage would be taken in tax  here in France on say 6.000€ ? If they are going to take a big chunk, I will just take it all as a monthly pension.

[Araucaria]

Nowadays (with very low annuity rates) communting part of your pension for a lump sum is not a good idea, unless you have something like a mortgage (or other loans) to pay down that are costing you a lot by way of interest.

And getting an extra amount of taxable income all at once in this year will probably result in you paying more tax overall than if you take a small increase over the future years.

But I'm afraid that no-one is likely to be able to answer your main question, though, without knowing what other income you have that is taxable in France, and a bit about your family circumstances too.

[Scorpion]

Many thanks for you reply

Araucaria

- I was thinking that might be the case. I guess I'll just have to keep drawing a monthly sum for a long time to recoup the money I could have had as a lump sum!

As a matter of interest and old art college friend in the UK has an H van - you may be interested in his website http://www.hvanshowmobile.co.uk

Regards

Scorpion