Accountants advise to not declare UK rental income

[Patf]

Thanks for the replies - that's a relief, because the next return we make this year we will enter a very low figure for the rent, below our tax threshold, the place having been empty for a few months and needing expensive repairs.

I must say though, the task of filling in 2 lots of tax forms (UK and France ) doesn't get any less of a headache year by year.

[andyh4]

You have my sympathies Pat. At one stage I as filling out 3 sets of tax forms - UK, F and D. Now that was a real PITA.

[chocolatefish]

Thanks to all who have responded, it has been really helpful - even if it wasn't what we wanted to hear! We will be completing the tax form this year declaring all our income in the UK, not making a big deal of it and hoping that its just accepted.

One thing the accountant did emphasise was the great importance of providing details of all bank accounts held overseas, which we did not know about. I think I'll start a new thread on that one!

Thanks again,

[mint]

That's the easy bit!

You just list all your bank accounts outside France, the usual details, name of bank, sort code, Iban, etc.  NO NEED to put in amounts you keep in them though.

You can put all that on a separate piece of paper and include it with your return.

[chocolatefish]

Cheers for that.

Is it just bank accounts? We have a couple of tracker funds set up to receive our UK rental income, that we receive tiny dividends from, all included in our declaration to the UK taxman. Do we need to declare these to the French tax authorities too, as per normal bank accounts?

[parsnips]

[quote user="chocolatefish"]Cheers for that.

Is it just bank accounts? We have a couple of tracker funds set up to receive our UK rental income, that we receive tiny dividends from, all included in our declaration to the UK taxman. Do we need to declare these to the French tax authorities too, as per normal bank accounts?[/quote]

Hi,

     You should also be declaring these dividends in France , on form 2047 page 2  - sec 2 - A -"dividends eligible  à l'abattement de 40%".......

see form here;              http://www.impots.gouv.fr/portal/deploiement/p1/fichedescriptiveformulaire_9038/fichedescriptiveformulaire_9038.pdf

follow the instructions on the form and you get an allowance of 40% and a credit of 17.7% for tax paid in the UK.