Declaring UK accounts and Power of Attorney

Banking & Financial
1

Hi There,
As a French resident I’ve been declaring all my UK accounts here each year. I now have joint power of Attourney with my sister of my Mother’s accounts. Must I now declare these accounts in France even though my mother is the account holder?
I’d appreciste any clarification on this point.

2

Hi and welcome to SF
Just to be clear, is your mother also resident in France?

3

Hi Katharine and welcome…

Interesting question, to which I have no answer… right now.

I shall ask my neighbours (who love my oblique questions) … there’s bound to be one of them who’s been in a similar situation… albeit not necessarily with UK accounts.

You won’t be the only Brit/person in a similar position, I reckon… so we might as well find out where one stands…

4

I have been advised that I need to declare my mother’s accounts over which I have LPOA.

The Connexion’s 2020 Income tax guide advised that this be declared in Section 3 of form 3916.

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5

Thanks a lot, good to know. It’s going to be complicated as she has lots of bits and pieces in accounts I don’t even know about as due to her mental health and frailty she hasn’t been keeping track.Hope I can manage to get back to the UK and make a list.

6

The French Tax Folk are not ogres and if you give them the best info you can… that’s fair enough.
then if you need to add or amend at a later date… so be it.

All will be well.

(and I’m still going to vaguely talk this through with the neighbours… make a change from covid stuff)

7

Thanks for your supportive mesage Stella,
I’ve always tried to be as transparent as possible. Last year they called me as they had lost a load of data due to a technical problem on the platfom and I helped them out as best I could! I’ll probably get in touch with them to explain the situation/ leave an explanatory note on my declaration.

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8

I guess there’s no downside to declaring them and there could be a downside to not declaring them.

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