menthe Posted April 16 Share Posted April 16 Concerns taxes and interest from savings and the déclaration for 2023. After years of getting zilch, I have had a bit of a shock on gathering the figures in anticipation of the tax declaration next month, to find strange looking largish sums added to our savings accounts! Amounts for interest.....but don't know if I should be jumping around for joy too soon. What with the state pensions increase and now interest increase, I am wondering about (you guess it!) this year's tax bill! Completely forgotten by now what it felt like when the exchange rate was 1.47 and interest rates on savings were 7 - 10% And now this unexpected good fortune has completely floored me! Has anyone else been surprised, delighted, thrown into confusion....and what other emotion? Link to comment Share on other sites More sharing options...
DaveLister Posted April 16 Share Posted April 16 Interest has certainly become " a problem" in the last couple of years. It's not the tax so much as the social charges. Link to comment Share on other sites More sharing options...
menthe Posted April 16 Author Share Posted April 16 Yes, DL, of course I meant social charges though I have broadly use "tax" to mean anything we have to pay on the tax returns. OH has a couple of annuities so we were used to paying sc from those but certainly interest from savings wouldn't be enough to count for much. Link to comment Share on other sites More sharing options...
Judith Posted April 16 Share Posted April 16 Menthe, I must admit, I was working on our tax form last night and had got to savings, and on checking got quite a surprise how much there was .. not excessive, but after a miserable year before, like you it was a minor shock ... Link to comment Share on other sites More sharing options...
Lehaut Posted April 18 Share Posted April 18 I assume this thread relates to interest on UK bank accounts? We don't have any in the UK now, but several years ago we "forgot" to declare £345 interest sitting in a UK account in the name of my wife. She was controlled and had to pay the social charges on it! Always wondered afterwards if they are a diligent with the more affluent members of French society. Link to comment Share on other sites More sharing options...
menthe Posted April 18 Author Share Posted April 18 Yes, Lehaut, I did have a shock seeing the "vast" (ha!ha!) amounts we had inadvertantly accummulated! It's just mostly bank savings accounts that I was afraid to close as we can, of course, no longer open new accounts. I also have a couple of national savings accounts which pay useful amounts but by no means huge amounts! Didn't expect much and only check once a year when filling in the tax return. I don't know whether they are more diligent with us than with the French. I can only say that I have never been "controlled". I do trawl through everything and try not to forget anything but then I am sure I am perfectly capable of making the odd mistake, more through ignorance in the early years, than anything else. Link to comment Share on other sites More sharing options...
Lehaut Posted April 19 Share Posted April 19 20 hours ago, menthe said: we can, of course, no longer open new accounts. For the same reason we keep our RBS account, though they will not let us open any savings accounts. However, I have a Revolut sterling account which is paying me 4.07% interest daily on my "secret nest egg" I have only had this (not guaranteed) account for less than a year and am interested to see how the FISC treat it when we do our declaration. Link to comment Share on other sites More sharing options...
DaveLister Posted April 19 Share Posted April 19 I'm wondering the same thing about my Wise account. Fortunately it's a problem for next year. Link to comment Share on other sites More sharing options...
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