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Epargne populaire and Income tax - Sorted?


JohnRoss

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Following my last post on this I thought I would pass on the following. We went to the P.O. and were told that we had paid too much income tax to hold LEPs. We withdrew all the money from both accounts and were allowed to open an LDD, also interest tax free, each. Any surplus being used to top up our Livret As. However the official told us that there was no need to close the now empty accounts as we could put money back in once our tax bill dropped below the 732 euros in any year. Now that is strange as we had previously been told that we could not hold LDDs as well as LEPs.

I then asked if the fact that I also pay income tax in the UK on my Govt pension made any difference to which she replied that only tax paid in France was taken into account! The whole thing is very odd! If she is not in error then it would appear that you can hold LEPs, as long as they are empty, and LDDs but what happens when your tax bill drops below 732 euros and you put money into the LEPs is anyone's guess. Would you then be asked to close the LLDs? Something not right here methinks! Time will tell.........JR

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Looks as though you may be right as I found this on a French Forum:

1 livret A + 1 LDD + 1 LEP par personne ! pas plus.
Tu peux avoir 1 livret A à la CE, 1 LDD à ta Banque.
si tu es mariée, ton mari peut lui aussi avoir 1 Livret A + 1 LDD + 1 LEP.
Normalement, les ets, lors de l'ouverture des comptes doivent vérifier que c'est bien votre seul compte de ce type. Mais ils ne le font pas, ils se contentent de vous faire signer dans les clauses d'ouverture, une clause par laquelle vous affirmez que c'est bien le seul compte de ce type que vous possédez.
Autrement dit, en cas de contrôle du fisc notamment (et c'est facile avec l'informatique), l'ets vous met en cause pour fausse déclaration !!!!

  • Il y a 4 mois

We did have to sign something when the official opened the LDDs, don't want to do 4 months in the pokey so I hope she at least got this right! It was the same official that had previously told us that you could not hold LEPs and LDDs. Same as the Impots, do any of them know what they are doing? Does not inspire confidence!..........................JR

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"Now that is strange as we had previously been told that we could not hold LDDs as well as LEPs."

You and your wife can hold one of each of these accounts. They may check, to see if you hold these type of accounts at any other bank.

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No we don't have accounts with any other bank in France. No doubt these things get reviewed from time to time by someone further up the chain from the local office though you would think that if you tried to open another account and already had an account open in the same establishment, where the combination was interdit, the computer would say no!................JR

PS One has to ask what advantage the bank has in you having an account open but with nothing in it? Charges?

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[quote user="JohnRoss"]PS One has to ask what advantage the bank has in you having an account open but with nothing in it? Charges?[/quote]

Because you are restricted to ONE of these accounts, whilst this one remains open with bank A, you cannot open another with bank B or C and you will  be more likely to return to it when you qualify for the account again.

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Aha yes that makes sense, good thinking Clair and thanks............................JR

PS What think you about the business of folk who also pay income tax in the UK as well as France and this not being taken into account as we have been told. It would seem this has not been true for others in the same situation?

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