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Would you class this a "nice" problem?


menthe

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Concerns taxes and interest from savings and the déclaration for 2023.

After years of getting zilch, I have had a bit of a shock on gathering the figures in anticipation of the tax declaration next month, to find strange looking largish sums added to our savings accounts!

Amounts for interest.....but don't know if I should be jumping around for joy too soon.  What with the state pensions increase and now interest increase, I am wondering about (you guess it!) this year's tax bill!

Completely forgotten by now what it felt like when the exchange rate was 1.47 and interest rates on savings were 7 - 10%  And now this unexpected good fortune has completely floored me!

Has anyone else been surprised, delighted, thrown into confusion....and what other emotion?

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Yes, DL, of course I meant social charges though I have broadly use "tax" to mean anything we have to pay on the tax returns.

OH has a couple of annuities so we were used to paying sc from those but certainly interest from savings wouldn't be enough to count for much.

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Menthe, I must admit, I was working on our tax form last night and had got to savings, and on checking got quite a surprise how much there was .. not excessive, but after a miserable year before, like you it was a minor shock ...

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I assume this thread relates to interest on UK bank accounts?  We don't have any in the UK now, but several years ago we  "forgot" to declare £345 interest sitting  in a UK account in the name of my wife.  She was controlled and had to pay the social charges on it!  Always wondered afterwards if they are a diligent with the more affluent members of French society.

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Yes, Lehaut, I did have a shock seeing the "vast" (ha!ha!) amounts we had inadvertantly accummulated!  It's just mostly bank savings accounts that I was afraid to close as we can, of course, no longer open new accounts.

I also have a couple of national savings accounts which pay useful amounts but by no means huge amounts!

Didn't expect much and only check once a year when filling in the tax return.

I don't know whether they are more diligent with us than with the French.  I can only say that I have never been "controlled".  I do trawl through everything and try not to forget anything but then I am sure I am perfectly capable of making the odd mistake, more through ignorance in the early years, than anything else.

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20 hours ago, menthe said:

we can, of course, no longer open new accounts.

For the same reason we keep our RBS account, though they will not let us open any savings accounts.

However, I have a Revolut sterling account which is paying me 4.07% interest daily on my "secret nest egg"  I have only had this (not guaranteed) account for less than a year and am interested to see how the FISC treat it when we do our declaration. 

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