Jump to content
Complete France Forum

UK savings on Tax Return


Fittersmate

Recommended Posts

Help!

Form 2047 - P2 Section B - have entered savings in col 8, applied the 17.7% and then entered total (col 8 + 10) and entered this under TR and then transferred this to TR on Form 2042 and the amount in TA has also been transferred to 2042. Is that right?
Link to comment
Share on other sites

[quote user="Fittersmate"]Help!

Form 2047 - P2 Section B - have entered savings in col 8, applied the 17.7% and then entered total (col 8 + 10) and entered this under TR and then transferred this to TR on Form 2042 and the amount in TA has also been transferred to 2042. Is that right?[/quote]

Hi,

 What exactly do you mean by "savings"?

Link to comment
Share on other sites

Struggling to complete the form (serves me right for leaving it so late but life has been hectic lately with health problems).

The Connexion guide says 'UK interest should now go in column 8, intérêts and then under D and TR on the lines below, before being carried to box 2TR on page 3 of the main 2042 form

I must be very dim - I can't see box 2TR on the main 2042! And as tax was paid in UK how will the French know not to tax it again?
Link to comment
Share on other sites

[quote user="Mrs Trellis"] I can't see box 2TR on the main 2042! And as tax was paid in UK how will the French know not to tax it again?[/quote]

It's on pg 3 in Section 2I about half way down on the right in that section.

You need to reclaim the tax paid from the UK and enter the interest gross on the French form.

Link to comment
Share on other sites

[quote user="Mrs Trellis"] And as tax was paid in UK how will the French know not to tax it again?[/quote]

They won't, it's up to you to claim the UK tax paid back from the UK - if your UK Bank/BS will not pay your interest gross.

[quote user="mint"]

You need to reclaim the tax paid from the UK and enter the interest gross on the French form.

[/quote]

Mint is right.

Sue

Link to comment
Share on other sites

[quote user="suein56"][quote user="tinabee"]Isn't the 17.7% only applicable to dividends - not bank savings interest?[/quote]

Yes - hopefully Parsnips will be along soon to explain why.

Sue

[/quote]

Hi,

     Under the Tax Treaty, bank interest is taxable only in France , so no tax should have been taken in the UK , or if it has been the declarant should have got it back , either from the bank , or , if as often happens the bank refuses to pay interest gross, by reclaiming from HMRC.

    Under the Treaty , dividends are taxable in both the UK and France, but a credit is given in France for Corporation tax paid in the UK on the profits on which the dividend is based.   The credit is for some reason fixed at 17.7% for UK dividends , and this almost ,but not quite the same as the tax credit shown on the dividend certificate. 

Link to comment
Share on other sites

"Under the Tax Treaty, bank interest is taxable only in France ,

so no tax should have been taken in the UK , or if it has been the

declarant should have got it back , either from the bank , or , if as

often happens the bank refuses to pay interest gross, by reclaiming from

HMRC."

Don't tell Andy, He'll be too busy scrubbing the step with his toothbrush. [:D][:D]

Link to comment
Share on other sites

Our bank interest has been taxed in UK. It isn't a huge amount, is it worth the trouble of requesting a reimbursement and then having it taxed in France?

Also, my income is below the UK personal allowance, so I guess I could claim back tax on my share of bank interest. But then it would be taxed in France so I'd be worse off?
Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...