Tax Return - First time.

[powerdesal]

I understand that 2013 tax returns will be due in May. This will be the first time we will be doing this.

I have read the tax 'sticky' and can probably manage the routine stuff but.......we have some investments that generate an income, these are 'income bonds'.

I don't think they class as 'dividends', nor are they bank account interest and they are not a 'private pension'. The question is - how do we report the income ?

The sticky states that you list all your bank accounts outside France, I haven't seen the forms yet but does the listing have to include the amount of cash in each account ?

We were considering the services of an accountant but are now questioning whether we actually need one as our finances are reasonably straightforward, apart from the above investment question.

Any thoughts, comments, etc etc will be more than welcome.

[mint]

Hi, Steve, someone like Parsnips will be along to tell you what you do with the investment stuff.

I do know about listing of the bank accounts though.

You literally just list the accounts on a spare sheet of paper and no you don't have to write down the amount in each account.

In fact, I keep the list I made out back in 2007 and I just photocopy the list every year and re-submit that as, of course, we can't now open new UK bank accounts and we don't have accounts anywhere else.

[tinabee]

Do the income bonds have a life insurance element? if they do then they may be classed as the equivalent of "assurance vie" in France. As Sweets says, I am sure Parsnips will be along soon to help.

Edit:

Also, even though the bond may not be held in a bank it is worth declaring it with the bank accounts as the French tax office seems to be getting stricter on what accounts need to be declared.

[parsnips]

[quote user="powerdesal"]I understand that 2013 tax returns will be due in May. This will be the first time we will be doing this.

I have read the tax 'sticky' and can probably manage the routine stuff but.......we have some investments that generate an income, these are 'income bonds'.

I don't think they class as 'dividends', nor are they bank account interest and they are not a 'private pension'. The question is - how do we report the income ?

The sticky states that you list all your bank accounts outside France, I haven't seen the forms yet but does the listing have to include the amount of cash in each account ?

We were considering the services of an accountant but are now questioning whether we actually need one as our finances are reasonably straightforward, apart from the above investment question.

Any thoughts, comments, etc etc will be more than welcome.[/quote]

Hi,

      Provided there is an element (however small - 1% is usual) of life cover - you declare as I set out in this answer on this forum;       services.completefrance.com/forums/completefrance/cs/forums/3052927/ShowPost.aspx  on  18/01/2014.

[6931philippe]

Hello,

To list your accounts, you have to use a form n° 3916 called "Déclaration par un résident d'un compte ouvert hors de France". This form is freely available on the tax administration website.

You don't need to report the amount of cash of each account but just their references.

[tinabee]

[quote user="6931philippe"]Hello,

To list your accounts, you have to use a form n° 3916 called "Déclaration par un résident d'un compte ouvert hors de France". This form is freely available on the tax administration website.

You don't need to report the amount of cash of each account but just their references.[/quote]

It is not essential to use this form. You can also list your accounts on a sheet of paper (la liste des comptes sur papier libre).

[Mac]

What details do you need to give? Bank name,sort code, address? Thanks

[parsnips]

[quote user="Mac"]What details do you need to give? Bank name,sort code, address? Thanks[/quote]

Hi,

     I have always put just bank name and account number.

[EuroTrash]

"What details do you need to give? Bank name,sort code, address? Thanks "

From memory - yes, also the account name, the type of account (cheque, savings etc), and if it was either opened or closed during the year you put that as well. Best is to look at the form and see what it asks for.

Can't remember if the sort code has to be the IBAN or not?