Help with tax please

[allanb]

Sorry, I missed it.  Thanks.

[Doodle]

thanks, I am now 100% sure of what I am about to sign away to the tax man !

and a big thank you to all of you who dedicate your time to helping all of us.

Christina

[mint]

Seconded, at least the "thank you" bit; can't say I'm 100% sure of anything.

[Doodle]

Help encore !

Just when I thought I knew what I was doing, a friend gives me a copy of April's Connextion with a step by step guide to filling out the main forms.

I am now confused (unless I am not reading it correctly) as under the section headed "UK interest (bank and building society, PEP and ISA, National Savings and premium Bond winnings)", the advice is, "add together all of the NET interest and winnings for both spouses , from all sources, by country of origin"

Can someone confirm that NET interest is correct - I thought everything was declared gross. If net is correct could someone explain to this dim wit why.

Thanks in advance, Christina

[Benjamin]

I don't know what April's Connextion is but it's wrong. Substitute the word gross for net.

If you have bank or building society interest net of tax (but not the others you mention as these are already paid gross) you will then have to reclaim the tax deducted via HMRC.

[Doodle]

Thanks benjamin,

The Connexion is an english monthly newspaper for brits in france (www.connexionfrance.com) available from local newspaper shops and supermarkets. The chappy who answers money and financial queries is Hugh MacDonald so perhaps I'd better send him an email.

Thanks again, Christina

[Benjamin]

For anyone who is thinking of declaring online for the first time it seems that Friday 2 May is the first date that you can do it.

From:	[email protected]
Sent:	Fri 04/04/08 20:53
To:	Mr & Mrs Benjamin

Ministère du budget, des comptes publics et de la fonction

publique

Cette année encore,

faites confiance à la déclaration de revenus

en ligne

Madame, Monsieur,

Nous avons

reçu l'année dernière plus de 7 millions de déclarations de revenus en ligne,

dont la vôtre.

Cette année, votre déclaration sera disponible sur

impots.gouv.fr, à partir du vendredi 2 mai.

Vous connaissez

déjà ses avantages : la simplicité, car seules les rubriques dont vous

avez besoin vous sont proposées et vous êtes dispensé de l'envoi des pièces

justificatives, les délais supplémentaires qui vous sont accordés et la

sécurité de la procédure, avec l'accusé de réception qui vous est donné à

la fin de votre déclaration.

Pour vous assurer un service de qualité,

nous vous informons régulièrement sur les meilleurs moments pour déclarer

en ligne. En cas de forte affluence, un rendez-vous vous sera

proposé.

Enfin, vous contribuez au respect de l'environnement : vous

recevez un seul exemplaire de votre déclaration de revenus ainsi qu'une notice

abrégée et vous n'envoyez plus de pièces justificatives.

Je vous

remercie de votre attention.

[Danny]

[quote user="Cat"]

I have just posted a French Tax FAQ, kindly put together by Sunday Driver and Cooperlola, that may help with some of this...

http://www.completefrance.com/cs/forums/1196188/ShowPost.aspx#1196188

[/quote]

Cat, regarding interest earned on savings abroad, you said (on the Tax FAQ)

Savings and Interest 

Q          I receive interest on savings that I have in the UK, do I need to declare this on my French tax return?

 A          Yes. For interest from savings in the UK, or anywhere else in the world outside France.  As you'll have gathered by now, start by entering your gross savings on form 2047, section IV. REVENUS DES VALEURS ET CAPITAUX MOBILIERS ET REVENUS ASSIMILÉS  2 - REVENUS DES VALEURS MOBILIÈRES ÉTRANGÈRES ET REVENUS ASSIMILÉS.  Put the gross figure in Column 5 under Royaume Uni, then transfer the total across to box TS on the form 2042. 

You can now contact your UK bank/building society to ask them to pay your future interest gross.  If they refuse, then you can claim a refund of the UK tax each year via HMRC. 

That's it for the savings interest.

when  you say "enter your gross savings on form 2047" I presume you mean gross amount of interest earned, not the amount of savings in the account. Is that right? Or have I misunderstood?

Maybe you could make it clearer for me? please? Sorry if I am being a dunce...

Danny

[cooperlola]

The interest.  The tax is on unearned income - not the money that is in the bank (which you've sweated to earn and have already paid tax on!) which the interest was paid on.

[Danny]

thanks

Danny

[Cat]

Oops, changed from savings to interest.

[Ron Avery]

[quote user="Benjamin"]For anyone who is thinking of declaring online for the first time it seems that Friday 2 May is the first date that you can do it.

Cette année encore,
faites confiance à la déclaration de revenus en ligne

Madame, Monsieur,

Nous avons reçu l'année dernière plus de 7 millions de déclarations de revenus en ligne, dont la vôtre..........

............Cette année, votre déclaration sera disponible sur impots.gouv.fr, à partir du vendredi 2 mai.

................Pour vous assurer un service de qualité, nous vous informons régulièrement sur les meilleurs moments pour déclarer en ligne. En cas de forte affluence, un rendez-vous vous sera proposé.

There is no mention of a 20€ reduction in tax this year for doing it on line, Benjamin,  maybe they cannot afford 14,000,000 € this year.


[/quote]

[krusty]

Yes you do still get a 20euro reduction for your first on line declaration

http://static.impots.gouv.fr/minisite/accueil2.htm#

click on je cree des.....

[Ron Avery]

In previous years everybody declaring on line got the 20€ reduction, not just first timers.

[woolybananasbrother]

It has been changed

[Ron Avery]

[quote user="knee gel"]Thanks benjamin, The Connexion is an english monthly newspaper for brits in france (www.connexionfrance.com) available from local newspaper shops and supermarkets. The chappy who answers money and financial queries is Hugh MacDonald so perhaps I'd better send him an email. Thanks again, Christina[/quote]

And here is an example of his clear and incisive advice that I posted on another thread about why he told people that UK interest should be declared net, and not gross.

"As UK bank interest is paid after the deduction of UK income tax, it is received net. Other income sources are generally exempt from income tax[:-))], so are also paid net, although this figure will, admittedly, be the same as the gross income[8-)][8-)][:-))] 

The French require that it is the net income received that is initialled “declared” on the form 2047 as there is then a method of accounting for the income tax in order to then produce the gross income which, yes, will be “assessed"

 

Thank you.................  NEXT!!!