Pension income tax

[Barryk1]

Hi brand new to the forum and am looking at possibly buying a property in France and retiring over there , I will get a pension from my employer and I was wondering what taxes I would pay on it , ie would I pay UK tax or French tax , I will be 55 when I retire  ( all being well )

B

[cooperlola]

[quote user="Barryk1"]

Hi brand new to the forum and am looking at possibly buying a property in France and retiring over there , I will get a pension from my employer and I was wondering what taxes I would pay on it , ie would I pay UK tax or French tax , I will be 55 when I retire  ( all being well )

B

[/quote]Who is your employer?  If your pension is a government one - civil service, teacher, armed forces etc - then you will be taxed in the UK.  Private pensions are taxed here in France.

 

A note of caution - make sure you have your healthcare covered as - after a maximum of 30 months from your retirement date until you've lived here 5 years - you must now buy your own full (covering doctors' fees, hospital stays, medecines, physio, ambulances etc etc) private healthcare.  You cannot join the French government system and you must, by law, have your own health cover.  For more info on this subject, feel free to visit our website (voluntary and unaffiliated), below.

Welcome to the forum, by the way.[:)]

[Barryk1]

Its a Network rail pension

Baz

[cooperlola]

Rather like mine, then.

France, for sure.[:)] It's still a company, although a "not for profit" one.  Is your pension administered by RPMI?

[Sunday Driver]

You will find that your tax liability in France is fairly light.

If you are a married couple and your sole income is a company pension of up to 19,500€ per annum, then there will be no income tax to pay in France.  If you have additional income from savings/investments, then that will put you into tax.  As an example, if you additionally received savings interest of 1,000€ then your overall tax bill would amount to 165€ plus a further 121€ in social contributions payable on your savings.

As per Cooperlola, all of your income needs to be declared here on a French tax return.