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Assurance Vie


Loirette

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When completing the on-line tax form this year an automatic warning came up, when on the appropriate page, saying that all assurance vies had to be declared with threats of dire consequences if they were not. This has not happened before and in fact in the past we were told only to declare those that had income taken from them. They, the tax men, seem to expect an assurance vie to have both a start date and an end date but some investment bonds like CMI and some bonds invested in Luxembourg, with a life insurance element and I assume count as an assurance vie, do not have an end date so it is all rather confusing.  Siddalls give guidance on where to enter the data on the tax forms. Just a thought.......................................JR
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Hi again and well we get a helpful letter automatically each year just before we have to make the declaration from Siddalls telling us how much to declare and where. In our case with a CMI premier bond in box TR if under 8 years old and box CH if over 8 years old. It might depend on what sort of bond you have I guess. We do have a Lombard investment bond again with a life insurance element, also arranged by Siddalls, in Luxembourg which has been a disaster in that it lost nearly 50% just after 9.11, crawled back up to nearly what we put in and then crashed again last year with all the world wide money problems so we would not pay tax on it anyway and it was this that our accountant told us we would not have to declare but it would seem he was wrong!

We stopped using an accountant after a couple of years as we were paying him more than we were being taxed and I figured even if I made the odd mistake we would be better off but it is all very confusing. One tries to be as honest as possible but the French system is so complicated one can never be sure and the on-line advice from tax inspectors is often in conflict so you don't know where you are half the time! Even more complicated if you have a govt pension like me. As for the HMRC and the pension service in the UK well please don't get me started!!! Good luck ...............................JR 

PS any worries and I would email Mervyn Simms at Siddalls for advice, always been helpful to us. http://www.siddalls.net/

PPS This site is worth looking at http://www.annett-consultancy.com/article_filling_in_your_French_tax_form.html#UKpenions as is this http://www.completefrance.com/cs/forums/1196188/ShowPost.aspx

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[quote user="JohnRoss"]When completing the on-line tax form this year an automatic warning came up, when on the appropriate page, saying that all assurance vies had to be declared with threats of dire consequences if they were not. This has not happened before and in fact in the past we were told only to declare those that had income taken from them. They, the tax men, seem to expect an assurance vie to have both a start date and an end date but some investment bonds like CMI and some bonds invested in Luxembourg, with a life insurance element and I assume count as an assurance vie, do not have an end date so it is all rather confusing.  Siddalls give guidance on where to enter the data on the tax forms. Just a thought.......................................JR[/quote]

Hi,

     Where no end date is stated on an "Assurance Vie" then it is deemed to be, and if necessary should be declared as ;"à vie".

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