ISA dividends/account declarations

[yalaki]

Hi,

I am in the final steps of completing my frustratingly complicated French tax return. It is the first time I have done it in France and it has been an epic headache. I have been to the service des impots several times and spent 90 mins talking to someone there this morning. I now think I am finally just about ready to actually fill in the papers from the spreadsheet. Before I do so I wanted to check a couple of things:

1. I have some doubt as to how exactly to declare my ISA (stocks and shares) income. I have put it in with the other UK dividends in (2047 IV. 2 A), since I received no tax credit I wonder whether the 17.7% credit d'impot rate still applies. What do other people do?

2. I have listed my foreign bank accounts in an accompanying letter. The only
   thing I am unsure of here is whether I need to declare my account with
   my stockbroker, since I technically have a capital account with them
   too.

Thanks in advance!!

[tinabee]

I don't know about declaring the ISA but I would certainly include any account that MAY be of interest, e.g. your stockbroker, just to be on the safe side. Although the 2042 form just mentions bank accounts, the actual text on the 3916 has the following:

"Les comptes à déclarer sont ceux ouverts hors de France auprès d’un établissement bancaire ou de tout autre organisme, admi- nistration publique ou personne (notaire, agent de change, etc.) recevant habituellement en dépôt des valeurs mobilières, titres ou espèces."

Rough translation:

"The accounts to declare are those open outside of France with a banking institution or any other body, public executive or person (notary, stockbroker, etc.) usually receiving deposit of securities, securities or cash."

[parsnips]

[quote user="yalaki"]Hi,

I am in the final steps of completing my frustratingly complicated French tax return. It is the first time I have done it in France and it has been an epic headache. I have been to the service des impots several times and spent 90 mins talking to someone there this morning. I now think I am finally just about ready to actually fill in the papers from the spreadsheet. Before I do so I wanted to check a couple of things:

1. I have some doubt as to how exactly to declare my ISA (stocks and shares) income. I have put it in with the other UK dividends in (2047 IV. 2 A), since I received no tax credit I wonder whether the 17.7% credit d'impot rate still applies. What do other people do?

2. I have listed my foreign bank accounts in an accompanying letter. The only
   thing I am unsure of here is whether I need to declare my account with
   my stockbroker, since I technically have a capital account with them
   too.

Thanks in advance!!

[/quote]

Hi,

      You should certainly enter the 17.7% credit for your isa shares dividends as the companies will have paid corporation tax and the french credit (which is not exactly the same as a UK share  tax credit is to take that corporation tax into account (see the DTT art 24.)

       It won't hurt to enter the name and acc.no. of your broker account - no capital  amounts need be declared.