Declaring personal pension funds for French income tax and ISF

[pomme]

I have several personal pension funds, one large and others small. I've never declared any of them on form 3916. I have just declared the monthly pension I have taken from the main pot (I do not pay any UK tax on the payments as I am not in the UK) and I've not touched the other funds.

However, with the recent changes in UK giving the ability to withdraw part or all of a pension pot, I'm wondering whether I ought to be declaring them before I start considering winding down the smaller pots in the years to come?

And if I did take money from them rather than varying the amount form my main fund, how would I declare any UK tax due to get a French tax rebate? Would it be best to declare them as life insurance since there is a benefit to descendants on my death?

And finally should I have been including all the funds in my ISF declaration?

[parsnips]

[quote user="pomme"]I have several personal pension funds, one large and others small. I've never declared any of them on form 3916. I have just declared the monthly pension I have taken from the main pot (I do not pay any UK tax on the payments as I am not in the UK) and I've not touched the other funds.

However, with the recent changes in UK giving the ability to withdraw part or all of a pension pot, I'm wondering whether I ought to be declaring them before I start considering winding down the smaller pots in the years to come?

And if I did take money from them rather than varying the amount form my main fund, how would I declare any UK tax due to get a French tax rebate? Would it be best to declare them as life insurance since there is a benefit to descendants on my death?

And finally should I have been including all the funds in my ISF declaration?[/quote]

Hi,

     If you are taking drawdowns from the pot and there is a life assurance element you can declare as a french life assurance  - you must find out , or calculate the gain element in each payment as only that is taxable .    (if that is the case, and the company cannot provide the info, I have a formula for calculating it your self.)

     If you have purchased an annuity it is declared gross  as "rente viager" on 2042 with variable abattement depending on your age when the first payment was received.

    In any case none of this income is taxable in the UK so you will not get a french rebate - you should be ensuring that no tax is taken in the UK.

 

 According to this , you should be declaring for ISF ( see "valeurs" )  http://vosdroits.service-public.fr/particuliers/F563.xhtml