Box 2OP impots

Tax question please concerning box 20P
I only have my UK state pension as income so don’t usually pay tax.
I have small amounts of interest from savings and premium bond wins. Not enough to raise my tax bracket ( I wish). I was taxed on these
My question is should I have ticked box 20P and if so, can I go onto my online correction and do it now
Thanks a lot

Je veux corriger la déclaration que j'ai déjà déposée. Comment procéder ? |

You can correct it from 2nd August to 6th December… 2023

My question really is if I should tick box 20P,?

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Yes… it is the best thing to do… :+1:

(it will have been ticked automatically, if you’ve ticked 20P in the past… but take a gander and tick it if it’s been overlooked… :wink: )

Presumably premium bond wins prior to becoming a resident in France?
None UK residents cannot invest with ERNIE, I was told by them that I had to close my account.

I still have mine. So long as you have a UK bank account it should not be a problem.

If from memory 2OP is to have your interest etc taxed using the scale rate rather than flat rate you can do the calculation easily enough approx - and I think you can run the numbers through the simulator.

I did mention somewhere that if you are in the 11% bracket it is worthwhile - obviously much more worthwhile if you are on the 0% bracket - however I’ve realised adding the interest to scale rate will be taken into account in the calculation of your ‘decote’ - so be mindful of that.

Also somewhere in my memory nags me that if it’s beneficial for you to be taxed at scale rate, the impot will do the calculation in that way anyway.

Yes from before moved. You can invest in them as a French resident if you have a UK bank account

Thanks for your answerI just went and did the correction,ticked box 2OP and I now owe no tax!
What is “decot”?

What de baby sleeps in. :blush:

Sorry. :slightly_frowning_face:


Not my experience but hey ho.

A decote is a deduction when you are close to the area of paying tax - as a progressive measure it softens the impact of moving into a bracket where you pay tax.

If you had it it would show in your tax calc.

It’s just another example of how France tax is so more progressive!

Obviously from your post, the impot don’t automatically apply 2OP if it’s a better method!

I still have them, and glory be had a £500 win in September!

Yay :blush:

Ty. It’s all so confusing
Guess I’m ok sticking with box 2OP for now
Shame they’re taking the original amount of tax out of my bank tomorrow

No they didnt

2OP is a choice one has to make… according to one’s situation.
It is not given automatically by the Tax Folk… “just because it might be beneficial to you”.

You have to have made the choice initially.

However, I believe that the Tax Folk will now carry the “choice” of 2OP automatically from one Declaration Year to the next, on your behalf…

This applies to all nationalities, not just Brits…

We have ours still and any win is reinvested. You might not WANT to have your money in premium bonds as I believe they are taxed in France at something like 60%. No doubt someone else will correct me on this.

No not 60%. I believe it’s flat tax rate but as I said just got mine reduced to zero

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Well done you!
When my father died in 2016 we discovered a number of premium bonds dating back to the 1960s in my name and my siblings. They were bought when we were all minors.
My siblings were able to transfer them into thier own premium bond accounts yet even though I had a uk bank account my address was here in France and I was told that mine must be cashed as I couldn’t invest as not uk resident.
Water under the bridge now.