ianf Posted May 5, 2007 Share Posted May 5, 2007 I will be retiring to France in a year or so and preparing my affairs to do so. I have 4 kids (26 21 18 - live in the UK, Universities and married); 8 year old living with me and his stepmum. Initially my income will be approx +£50k from offshore bank interest. How much Tax do I pay on this? In a few years I will also have a private and state pension from the UK is this taxed at source or in France and at what rate? I guess the real answer is to get a specialist accountant. Link to comment Share on other sites More sharing options...
cooperlola Posted May 5, 2007 Share Posted May 5, 2007 I think that you answered your own question there, Ian. Try Bruno Herbert et Associes, "Le Trifide", 18, rue Claude Bloch, 14050,Caen, Cedex 4 (they also have a Paris office)02 31 53 15 13. They are happy to deal with you by phone, Fax and e-mail. Link to comment Share on other sites More sharing options...
LesLauriers Posted May 5, 2007 Share Posted May 5, 2007 [quote user="ianf"] How much Tax do I pay on this? €9822 tax plus €8250 social charges plus €5264 health charges. Oh and you will have wealth tax to pay.In a few years I will also have a private and state pension from the UK is this taxed at source or in France and at what rate? In France at 30% or 40% depending on amounts.I guess the real answer is to get a specialist accountant.That's the one! Proper planning and the use of French investments would reduce your taxes dramatically.[/quote] Link to comment Share on other sites More sharing options...
ianf Posted May 5, 2007 Author Share Posted May 5, 2007 Wow! That would be far more tax than I would pay in the UK!! And thank you for the accountant tip. Link to comment Share on other sites More sharing options...
Ron Avery Posted May 6, 2007 Share Posted May 6, 2007 Did you really mean interest of £50K plus or interest on £50K invested? If the former Les Lauriers answer is spot on. If the latter, you will not pay so much. If you are receiving interest of £50K then if your world wide wealth is over 750,000 € which it obviuosly is, you will pay wealth tax in France, it is not a lot for the first band but it climbs steeply after that. Also you will not necessarily get "parts" added to your household which determines your free pay if your children are not living with you or dependent etc. If you are buying here with a scond wife and/or step children or there are children from another marriage you should seek financial and legal advice. Link to comment Share on other sites More sharing options...
ianf Posted May 6, 2007 Author Share Posted May 6, 2007 I will have well in excess of 750,000 Euro invested + a pension plus about half of that in other assets. Our house in France is quite small and we are currently working on it - it is fully owned. It sounds like I need an accountant specialising in France! If I have to pay significantly more tax in France then we would have to rethink as I have two kids at Uni, one 7 year old and another on the way (2nd family, I should be so lucky). Link to comment Share on other sites More sharing options...
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