Hi
Tearing my hair out.Ive been to my local tax office but as I’ve moved area they said they were unable to help
I need to do a correction on my tax return
I took out a French Assurance Vie last year
Was charged Social charges and in December was paid interest on the fonds en euros part ( no withdrawals)
Social charges at 17.5% were taken from this by the Assurance company
I hold an S1 so believe I should have paid lower rate
Problem is these charges are not showing on my Avis d’impots
2nd problem I have no idea how to declare the AV
The unhelpful guy at the tax office said I don’t have to declare it,! But I know I do
I’m a 70 yr old widow and tearing my hair out and losing sleep over this. I just want to get it right but can’t get advice from anyone.The bank I bought the AV from don’t have a clue and tbh I just want to cash it in.
Any help will be appreciated
Tried looking for an accountant in my area but none available
Thank you
First off, don’t tear your hair out!
For a French Assurance Vie I don’t think I enter it into our tax return. We have a UK one as well which did go in, but not the French one. I have totally forgotten what we do each year, but if no one else pops up on here with the exact answer today I’ll check.
As for the social charges, we were told that we have to write formally to the AV company to request that these be exempted. And it would be an exemption that will only apply in the future, so for next year now, we can’t reclaim what has been paid. Since social charges only apply to interest on the fonds in €, and the reduction is small I have to admit that we haven’t yet done this! We only have a small amount in these fonds, and the interest is small. So a small reduction on a small sum is obviously not enough to motivate me. I will put it back on the to do list - thank you!
Than you!
One of the problems I have is that the Assurance company don’t seem to have passed the Social charges on to impots.
It’s all a mess really
I’m wondering if there is a misunderstanding between French and English languages … at the Bank where you took out the Assurance Vie…
I can’t imagine a French Bank which does not know what should be declared and what needn’t… 
Since it only applies to people with S1’s who also have an assurance vie, and also have one with an element invested in fonds in euro, does seem possible that the average bank employée may have no experience of this. I recall it took us a while to get any response as to whether we could be exempt or reclaim the partial social charges. (Not that we have taken the next steps so don’t know if it works!)
There must be others on here with an AV, so hopefully someone else will pop up.
From my personal experience… when discussing Finance of any sort at my Bank… I make an appointment and speak with “the experts” who do know what they’re talking about…
Perhaps @Su_Greenwood didn’t get this far…
I’m going out now, but will go and look at my file when I come back if no one else has answered. My feeling is that this is all dealt with outside your tax return. So AV company declares directly to impôts, which is why if we want it back we were told we have to deal with AV company. But I could be wrong so will check.
I have spoken to my bank who don’t have a clue! I can’t visit in person as I have moved area
Good heavens… what a pickle … which Bank are we talking about ???
How on earth are you expected to manage your finances, if moving areas means no-one knows nuffink !!!
I note that you are considering cashing-in… and this might well be the way to go BUT try and check that there are no nasty surprises for cashing-in, before you go ahead…
I have a feeling that there was something negative if one fidgeted with AV’s too early… but can’t recall the detail…
That’s exactly the advice I’ve been given by both our bank and asset managers (separate institutions). Unless and until there are withdrawals, my understanding is that nothing needs to be declared on a French return. It makes sense - these are tax favoured wrappers and what goes on within the wrapper, stays within the wrapper, in tax terms until it leaves the wrapper, for a redemption/withdrawal etc.
On withdrawal the AV providers (are supposed to) issue an IFU/certificate of income + taxes withheld - that should also be automatically forwarded to the Impôts to appear in the right boxes in your return…
That was my understanding but ihave discovered since that nterest paid on parts in fonds en euros has to be declared each year
even if there have been no withdrawals
My problem is that the Assurance company have not informed impots of the AV
They have charged me Social charges but there is no record of this with impots
Quite right! Especially as sounds as if Su only opened them last year. Let’ see if we can help her sort out your worries with them instead as can be a good thing, particularly in terms of inheritance.
Credit Agricole
That would explain the specific advice I’ve received - we don’t have any Euro funds, ie all funds invested in shares/units etc.
I have just gone to look at our French AV file. We neither inform nor declare anything about them to the fisc.
When I look at my annual statement from the AV company it is clear that they have accounted for the social charges on the funds we have invested in “fonds en Euro”. The amount has been withdrawn from my accounts, and I have stuck a post-it note on the page to remind me to write formally to AV company re ask to be exempted in future. Which I haven’t done!
From the amount they have deducted I can calculate that the amount I have been overcharged is €63 - the difference between full social charges and just paying the prélèvement sociale. So it is a fairly modest contribution to the French exchequer.
So please don’t loose sleep over this. I may of course not be doing it right, but I really don’t think it is for you to declare this amount. I link to the gov’t site about declaring AVs.
What I do think you should do is check your annual statement. And if you haven”t got one then ask for ir!
Edit - just reading your last reply how do you know the AV company have not declared the social charges? You would only get an IFU (imprimé fiscal unique) if you had withdrawn funds.
Hi
I looked at my tax form and there is no sign of the AV or social charges anywhere
It’s as if it doesn’t exist!
The guy at the tax office ,(who said he couldn’t help because I need to go to the commune where I was living on 1st Jan) did say the social charges should show there
It’s all so confusing as advice on “strictly fiscal France” does say it needs to be declared and social charges to be reclaimed from impots
My French AV does not exist on my tax form either as I have not withdrawn any money from it.
My UK AV I declare the overall value on 1st Jan each year.
If the Strictly group say it should be declared how do they say it should be done? (Edit…I just popped over there and they also said that it is taken at source
“You should have a statement for year end December 2022 when the social charges are paid at source it is automatic and the bank is responsible for paying it and sending you the details”
So there is nothing for you to do to declare it, and they only issue is how to reclaim and or request future exonerations.
Oh ok Ty.
They don’t make things easy do they
I do have my statement which shows social charges taken
Tyvm for your help
Ok I’ve been on to an advisor. She said the details of the AV should show on tax returns .I checked online and there is nothing there.Also she said social charges should show on Avis d’impots
Seems as if my bank have not declared it as they should
Yes it is taken at source but the bank or AV company have to inform impots