What taxes etc will apply and to what amounts?

[P]

Been studying various books, websites etc and do not seem to be able to find the answer - so can anyone out there.

My wife and I are planning to retire when I am 55 and she is nearly 51 (92 weeks to go and counting). We are seriously considering France and trying to make sure that it will be financially viable.

I will be receiving a pension when I retire. My wife will receive a pension when she is 60 and then, hopefully, we will receive our state pension when we are 65.

We will be looking to supplement my pension by investing money. From previous enquiries it would seem that it would be better to invest in the UK where we should get at least 4% nett an then transfer this to France. Obviously, as regards any tax free allowances it would b better if the invested money was in my wifes name.

I have read that there is an 11% social charge levied on income.

So to my question:

How will we be taxed and what will be the percentages?

Many thanks in advance.

 

 

[LesLauriers]

Been studying various books, websites etc and do not seem to be able to find the answer - so can anyone out there.

--Look again at the advice you were given to your previous posting – the answers (as they say) are all there!

My wife and I are planning to retire when I am 55 and she is nearly 51 (92 weeks to go and counting). We are seriously considering France and trying to make sure that it will be financially viable.

I will be receiving a pension when I retire. My wife will receive a pension when she is 60 and then, hopefully, we will receive our state pension when we are 65.

We will be looking to supplement my pension by investing money. From previous enquiries it would seem that it would be better to invest in the UK where we should get at least 4% nett an then transfer this to France. Obviously, as regards any tax free allowances it would b better if the invested money was in my wifes name.

--In France you are taxed as a family and there is no benefit in putting the investment in your wife’s name as UK allowances do not apply, generally speaking if it is tax free in UK it is taxable here.

As already advised there are tax advantageous investments in France paying over 4%, and there are a number of tax free savings accounts available.

I have read that there is an 11% social charge levied on income.

--On unearned income.

So to my question:

How will we be taxed and what will be the percentages?

--How long is your piece of string? It obviously depends upon the amount and source of your income, but you could easily be paying 38% on your investment interest.

Many thanks in advance.

--If you are serious, then buy the PKF book it is invaluable. Take a look at the finance pages on www.frenchentree.com the tax rates and allowances are all there as well as the different investment vehicles available.