Tax 2047 again! entering interest gross,where?

[milkeybar kid]

ooerrr,[8-)] last year we had tax taken out at source on interest- Form 2047 in  IV paragraph B Autres revenus -( had help filling it in from accountant , for this year he advised have it paid gross as we were losing out , would prefer not to spend the pennies on him this year and do it ourselves ) so we opted for gross but I cant for the life of me see where you would put a gross figure ( where we put it last year said NET !!)  in any of the columns we used last year . Do we need to fill in any extra place because its gross - just the "TS". Would be very grateful for advice , thank you.[:)]

[Ron Avery]

Well last year you on the advise of your accountant filed a false return and underpaid both  tax and social charges.  You have to declare gross interest received to the French tax man, if the tax on the interest was paid in the UK you get it back from the UK tax man,  not just don't declare it in France.  The FAQs are very clear on how to declare interest.

 Q          I receive interest on savings that I have in the UK, do I need to declare this on my French tax return?

 A          Yes. For interest from savings in the UK, or anywhere else in the world outside France.  As you'll have gathered by now, start by entering your gross interest on form 2047, section IV. REVENUS DES VALEURS ET CAPITAUX MOBILIERS ET REVENUS ASSIMILÉS  2 - REVENUS DES VALEURS MOBILIÈRES ÉTRANGÈRES ET REVENUS ASSIMILÉS.  Put the gross figure in Column 5 under Royaume Uni, then transfer the total across to box TS on the form 2042. 

You can now contact your UK bank/building society to ask them to pay your future interest gross.  If they refuse, then you can claim a refund of the UK tax each year via HMRC. 

 

Having read the FAQs don't get too hung up on the 2047, its only a means of calculating what goes on the 2042 which is the important form.

[milkeybar kid]

Ron, sorry I did not explain it well. [8-)]The accountant filled it in correctly showing gross figure in TS.

In the column 5, he wrote the net, in column 6 he wrote the %  (18% as it was offshore)the actual figure (sum) that was taken out he wrote into  Column 7 the actual tax paid at source . Then in A wrote what was in 5, B wrote what was in 7, TS wrote what was gross . BG wrote what was in 7. The French Government kindly wrote a cheque for us in August with the figure that was written in 7 (BG).

Because this time 2007-2008  no tax was taken I felt it was wrong to write the gross figure in column 5 when, last year he wrote the net figure – and the column heading says “Montant  Net – so I was arguing with myself “ it says NET not gross” but your reply implies I should ignore the word NET and write the gross figure , and think of the form as a “working out form” , yes , no, have I understood that OK Ron, thank you for your help.[:D]