Benjamin Posted January 5, 2006 Share Posted January 5, 2006 We have just been credited with some interest on our French bank deposit account. Can anyone shed any light on what these three entries on our statement might mean, especially as it will soon be time to fill in our first tax return.Interets 2005 Nets ( a credit amount )Prel Csg/rds Csg/int Brut ( a debit amount )Prel Csg/rds Rds/int Brut ( a debit amount )The credit amount obviously outweighed the debit amounts. This is just a normal compte Livret, where we parked some money earlier last year whilst we were waiting for our house purchase to go through.Benjamin Link to comment Share on other sites More sharing options...
Teamedup Posted January 5, 2006 Share Posted January 5, 2006 The CSG/RDS are taxes. Link to comment Share on other sites More sharing options...
Benjamin Posted January 5, 2006 Author Share Posted January 5, 2006 So does that mean the three amounts added together are the "gross" interest and, provided I manage to enter the figures in the correct boxes, the amount shown as Interets 2005 Nets will not be subject to any further deductions of tax?Benjamin Link to comment Share on other sites More sharing options...
Teamedup Posted January 5, 2006 Share Posted January 5, 2006 I call these taxes a stealth tax. They were brought it in and eat away at just about everything we receive.They have nothing to do with our income tax which is deducted as per our declarations, NB there is a bit of an allowance against these sums, but nothing to speak of really. So when you get your tax form in a couple of months time, just put the amount indicated on this form as the imposable net interet on your tax form and the tax man will duly tax you on it. If you have any problems or worries filling in your french tax forms then take your forms along with all your paperwork to your local tax office, or one of the seances they hold at Mairies or Centre Sociale in your neighbourhood. Your Mairie should know where these are being held and when. Link to comment Share on other sites More sharing options...
Benjamin Posted January 6, 2006 Author Share Posted January 6, 2006 Thanks for the info Teamedup. So it's goodbye a la carte and back to plat du jour.Benjamin Link to comment Share on other sites More sharing options...
Teamedup Posted January 6, 2006 Share Posted January 6, 2006 LOL I don't know, depends how much you think that you will be taxed I supposed. Not having any savings I really couldn't tell you. Link to comment Share on other sites More sharing options...
Benjamin Posted January 6, 2006 Author Share Posted January 6, 2006 It was only a temporary situation. We've now put a roof over our heads so we won't have this problem come next year.Benjamin Link to comment Share on other sites More sharing options...
Chrissie Posted January 8, 2006 Share Posted January 8, 2006 If it's any help, we get a form each year from our bank (Credit Lyonnais) with all interests etc on it and it tells you which box in the tax form you have to put each number.Chrissie (81) Link to comment Share on other sites More sharing options...
Ron Avery Posted January 8, 2006 Share Posted January 8, 2006 The savings account we have with CA "Fiscalité” is exempt from tax and social charges. We had to take our tax advice form to the bank and it was stamped with the bank's stamp and the details taken. The interest is added on at the end of the year. The APR is about 3.25%, nothing like the rates available in the UK and holding is limited to 7700€ per person, but with the CRDS and CSG rate that is applied to UK earned interest here which I think was about 15% of the interest earned, the rate does not look so bad. I also noted that CA Nord Midi-Pyrenees are opening an English speaking service so if you live in their region but are tied to Britline, which makes paying in money and local services difficult, it might be worth investigating. Link to comment Share on other sites More sharing options...
Benjamin Posted May 12, 2006 Author Share Posted May 12, 2006 Still waiting for our first tax forms; if they haven't arrived by Monday I think we'll be visiting Les Impots.A question relating to my post which opened this thread. Do all three amounts get entered on the tax form(s) and if so in which box numbers?Benjamin Link to comment Share on other sites More sharing options...
Ron Avery Posted May 12, 2006 Share Posted May 12, 2006 Benjamin You have not been keeping up have you??[blink] You do not get tax forms sent to you the first year, you have to go and get them from Les Impots or download them on line, you need 2047 and 2042 K as a minimum. You cannot declare on line the first year either as far as I know. Link to comment Share on other sites More sharing options...
Benjamin Posted May 16, 2006 Author Share Posted May 16, 2006 Sorry Ron I've clearly missed this info. I've stood facing the corner for 10 minutes so could I ask another question now?I've been and collected the forms and intend visiting for a discussion early next week. Do I need to take all supporting evidence of income or, like the UK, do Les Impots take your word for the figures until, of course, they suspect you of something and start investigating.I know what our income is but with the UK and French tax years being at variance I need time to get a revised certificate of interest earned from a UK Building Society which could seriously hold things up.Benjamin Link to comment Share on other sites More sharing options...
suein56 Posted May 16, 2006 Share Posted May 16, 2006 [quote user="Benjamin"]I know what our income is but with the UK and French tax years being at variance I need time to get a revised certificate of interest earned from a UK Building Society which could seriously hold things up.Benjamin[/quote] HiIs that right you can ask for revised certificate of tax? I had no idea. That might be quite useful.Though you don't want to delay returning the french tax form by the due date as I understand there are quite serious penalties for doing so.Sue [also a newbie to french tax forms] Link to comment Share on other sites More sharing options...
Ron Avery Posted May 16, 2006 Share Posted May 16, 2006 You can come and sit down now Benjamin[:D]Yes Sue , you can get a certificate of interest paid for January to December from UK banks and finance instititions, but you are cutting it fine as they can take up to two weeks to get here and your return is due in by the end of the month, unless you are returning on-line. Benjamin, can't you work out the interest received from statements or the UK certificate for this tax year just ended and pro-rata it? If you are going to Les Impots you should take along proof of income etc, they usually want to see something, they will not usually take your word for it the first year. Link to comment Share on other sites More sharing options...
Benjamin Posted May 16, 2006 Author Share Posted May 16, 2006 Thanks for your help again Ron.I'll take all of our paperwork with me and I should be able to explain the interest situation by taking the past two years interest statements with me.Benjamin Link to comment Share on other sites More sharing options...
tarncat Posted May 17, 2006 Share Posted May 17, 2006 I was told that in France tax is due on the total amount received and the taxable event occured at the time the interest was paid not when it accrued. Is my information incorrect? Link to comment Share on other sites More sharing options...
Benjamin Posted May 17, 2006 Author Share Posted May 17, 2006 TarncatI think I've heard something along those lines (probably on this forum) but I don't do "hearsay" when it suits me not to.The converse of this information is that if I had elected to have the monthly income option (albeit at a slightly lower rate of interest) then I probably would not have needed to ask the question in the first place.Benjamin Link to comment Share on other sites More sharing options...
Lollie Posted May 17, 2006 Share Posted May 17, 2006 Yes, I spoke to my offshore bank this week who confirmed its the day the interest is paid into your account that is used. is generally end of March; therefore for 2005 it would be the interest paid that date, assuming you have an yearly interest paying account.. Link to comment Share on other sites More sharing options...
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