Late filing of FD5 and english tax paid

[abbo2]

Hi,

I cashed a private pension in last year, not for much but they taxed it and sent me a P45. When I contacted UK tax office I was told that although I had filed a P85 they had not yet received the FD5 so I had to pay and when sorted they will refund the income.

But I dont know if I now need to declare the income on my French form and if I do - where abouts,

does anyone have any suggestions ?

[parsnips]

[quote user="abbo2"]Hi,

I cashed a private pension in last year, not for much but they taxed it and sent me a P45. When I contacted UK tax office I was told that although I had filed a P85 they had not yet received the FD5 so I had to pay and when sorted they will refund the income.

But I dont know if I now need to declare the income on my French form and if I do - where abouts,

does anyone have any suggestions ?[/quote]

Hi,

     As there is no direct french equivalent of this , I suggest the most tax efficient way to declare would be on 2047 page 1 "pensions,retraites,..etc" and on 2042 page 3 Box 1AS.

     If it is of such an amount that you think it may put you into a higher tax bracket, you can declare on 2042 at page 3 Box DXX "revenus exceptionnels ou différés" INSTEAD of  Box AS.

     You must put a brief description of the income and circumstances, but be prepared for questions. If accepted the tax liability will be calculated in a favourable way to reduce the tax(by a mechanism that I find too complex to explain).

[abbo2]

thank you so much for your suggestions,

it was less than 5k and I paid 700 gbp tax so its not so much but I am confused. Do you think I should enter the gross amount and then the UK will eventually refund me ?

[parsnips]

[quote user="abbo2"]thank you so much for your suggestions,

it was less than 5k and I paid 700 gbp tax so its not so much but I am confused. Do you think I should enter the gross amount and then the UK will eventually refund me ?[/quote]

Hi,

       Yes , you should enter the gross , and for a small amount like that,definitely put it in 2042 Box 1AS.

[gyn_paul]

Yes, file it gross. Then when you eventually get it back from HMCR you'll have this truly delicious feeling of having been given a lump of 'free' money !

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