OK, that’s exactly what my friend gets. And at the same stage, ie just before submission.
Good to know this about the 3916 form!
Question about foreign bank account interest: where do I have to input the interest earned for a foreign bank/savings account? Or is listing the foreign bank/savings account a la 3916 all that is needed?
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I could have sworn mine was only generated when I submitted it.
But it doesn’t matter because you can still go back in and change it right up to the deadline. Submitting it doesn’t commit you to anything. The figures aren’t set in stone until the window has closed and you can no longer access the form to change it.
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Welcome to SF. You report foreign bank interest on form 2047 (around line 250 for UK bank interest for example - see below) and then make sure you also report the interest in the main schedule 2042, around box 2TR.
Thanks Sandcastle. I don’t need to amend the form (I THINK I’ve done it correctly). I was just a bit flummoxed because my friend always gets an estimate automatically and I never do.
For some reason last year I couldn’t for the life of me get my interest figure to “stick” in box 250 in form 2047.
I ended up entering ROYAUME UNI in Box 32
Then the interest figure (montant net encaissé) in Box 33
Then 0% for the “Taux applicable” in Box 234
The interest figure again in Box 238
The same in Box 251
And finally the same figure in Box 252
I know that technically UK bank interest is not income “ouvrant droit à un crédit d’impôt égal à l’impôt payé à l’étranger”.
But since no tax was paid in the UK (meaning I didn’t claim any credit) and since the interest figure was ultimately carried forward to Box 2TR in the main tax form, I don’t think it matters too much.
Does it?
I confess I didn’t even try this year to enter the amount in Box 250. Just did the same as last year.
I recall last year either Jane or Stella mentioned that before completing the annexes, you should take note of the figure already shown in 2TR of the main form, based on info reported to the tax office by your French banks.
Because sometimes this figure got deleted when UK interest was carried over from form 2047.
I think that glitch has now been fixed.
Is there anything wrong with simply including interest with other foreign revenue?
Never used to get it and now I wish they would stop, the maximum in any one month is 75 pence.
If you’re completing form 2047 in any case, David, just stick €10 in box 250 and that will keep them happy.
I might go back into my online return later and see if I can report this UK interest in box 250 as you’re supposed to. But last year it drove me nuts.
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Probably not, but definitely worthwhile seeing if the system will now let you report it in the correct place, boxes 250 et al, ie if you go back into your return online.. If there is indeed a glitch stopping you filing correctly, you could also do a brief ‘mention expresse’ note to explain….
Right, I’ll try later from the office. Hopefully last year’s glitch has been fixed. Will report back.
@Meggie Having looked at 2047 and the notes in more detail, a more complete answer about reporting a UK government pension for a single person is as follows:-
2047 sections 1(12) and 6
2042 boxes 1AL and 8TK
.
Thank you
Thanks for that!
I just went back into my online return and amended it, to put UK bank interest in box 250 (form 2047).
The system did let me do this (unlike last year) but there was no way to delete “Royaume Uni” which I had originally entered in 232. Even though the dropdown box with country names appears in the section Intérêts ouvrant droit à un crédit d’impôt égal à l’impôt payé à l’étranger.
Which does not apply to UK bank interest.
So here’s my question for this unique year.
My wife died on 21 December and I must do 2 declarations- one up to and including 21 Dec married, and then one for 10 days (on paper) for just me and the cat.
The early one I understand fully.
During the second period when I was widowed, my only income for 10 days ( I think) was accrued interest on a US money market fund. I did not receive any other payment or pension or US social security. Should I be reporting the accrued interest? Should I accrue my social security (which is paid in arrears on 3 January)?
No to both. You only report actual interest or pensions received/credited to your accounts, not income accrued.
I haven’t seen any reaction but assume you got the answer you needed?
Hello survive15, like you, I follow the advice from Isabelle Want, and have been using the 17.6% tax credit, but I am really not sure if this is correct, as you say the dividends from the UK are paid gross. I have read the notes on the French gouv info, but I must admit I don’t fully understand what they are saying.
I used an accountant for two years when we first moved to France; who always applied the tax credit, but that was some 18 years ago, and I appreciate that the rules change constantly.
Can anyone clarify if it is permissible to use the tax credit?
I would not claim a foreign tax credit in France, since no UK tax whatsoever has been suffered on the UK dividend. I suspect the French government guidance has probably assumed that the foreign country, the UK in this case, would have applied a withholding tax, as in effect the UK did until about 1999, and probably a number of other countries still do. I would therefore simply report the gross dividend received on 2047, and show zero foreign tax credit. I would not like to have to explain to a tax inspector (in a hypothetical tax audit) why I had claimed a non-existent tax credit against the French liability.
I think so. It is done on a cash (flow) basis, not accrual.
But I missstated what I received. My only (cash) income in that 10 day period was a dividend (that covered a month), so I just report that.