It's tax return time again


(Terry Williams) #1

French tax returns have to be filed by May 19 unless you file your return on line, in which case it is later). So what rate should you use to convert your sterling income to Euros?


I've just updated the Finance page of Useful Links where, under taxation, you'll find links to official UK and French sites giving annual rates for 2014.


(Véronique Langlands) #2

If you aren't sure about something, book an appointment (or just turn up) at your local tax office & get them to go through everything with you.


(Elizabeth mearns) #3

So, how to proceed when there is so much conflicting information.

Oh yep, I filed for the winter fuel allowance via telephone, as a Resident of Switzerland.
Wonderful service, forms filled out for me over phone.
Discovered that ID number is called reference number on all correspondence.


(Elizabeth mearns) #4

Thanks gentlemen, I will try both conseille.
Phil, I hope you are right and I can save another journey.
Great idea to post the actual form. The visual will help me a lot in searching.
Good one.
I hope I can finish this old project today.
Whoopee!


(Phil Graham) #5

I've just checked and I've got tax returns archived going back to 2009 (for 2008) so I don't think that's the reason.


(Terry Williams) #6

You only need to keep your tax returns for three years in France which is why there's nothing before 2011 on line I imagine. If you must have older returns I can only suggest asking at your local tax office, explaining why you need them. I imagine they will have records going back more than three years.


(Elizabeth mearns) #7

I need to access my old tax returns, in France.
Nothing archived on line before 2011.
Any advice?
Thanks


(Phil Graham) #8

You DO have to declare UK income bond/investment fund etc. gains even if they are reinvested in the fund. I've been in discussion with the local tax inspector at Le Mans over this. We have a substantial investment bond with the CIS which we have never drawn on. HMRC have recently sent French tax office a note of the amount it went up for 2012 and 2013 and it didn't tally with what I had declared for those years. We got it sorted in the end.


(Peter Scawen) #9

So far I have spoken to 3 "consultants" who have all told me different things.

1) All investments have to be declared or NOT

2) Investment income that is reinvested must be declared or NOT

3) Growth in investments must be declared for CGT (but no reimbursement if they decrease in value) or NOT (see 2 above)

It is clear that Bank details have to be declared but not clear if the subaccount balance has to be declared.

Apparently as the flow of information exchange is increasing the French Impots are writing to ex-pats saying we know about this (etc) please confirm, etc. Again apparently if there has been no egregious avoidance, historical stuff is ignored and no fines applied.

I OFFER NO GUARANTEES ON ANY OF THIS.

But feedback would be very helpful.


(Terry Williams) #10

My gut instinct is that you don't have to declare reinested income. That is certainly the case with similar investments I have in France according to my banker.


(Sue Young) #11

You also need to attach a list of UK bank accounts (or list them on the form)-not amounts just where you have accounts. Interest should be declared as that info. could be supplied to the french tax authorities by HMRC/banks. We declare (on the french tax forms) exactly the same figure- for the rent on our UK property -as we do on our UK tax form. Don't forget that you must fill in a SA form for the UK tax authorities if you have rental income generated from a UK property.


(Mandy Moat) #12

Hi,my husband and I have just completed our first tax form with help from a French translator, we moved here in October so only had to declare 3 months income. Our income during these 3 months was only from an employers pension and rental income from a UK property. My questions are as follows:

The translator never asked us about bank accounts/savings and interest on these accounts, but this has to be declared??

We provided details of our gross rental income and the amount deducted for agency fees, but we didn’t mention the VAT on the agency fee, should we have mentioned this?

The translator asked for the employers pension net of income tax deduction in the UK, I would have thought we should be providing the gross figure and sorting out reclaiming tax paid in the UK later by completing the double taxation forms!
The translator worked out all our UK income in euros using what my husband said was the 'business rate’
CONFUSED!


(Arthur Hall) #13

Would you know the answer regarding life assurance investment bond gains. We never as yet have drawn any income off the bonds by choice, we just allow it to re invest therefore if we draw no income we were told not to declare on the French tax form, but only when we draw income would we then declare. Would anyone agree or disagree?


(anon61990393) #14

If your estate in France is worth more than 1 300 000 euros (Real estate + financial investments) then you must pay the ISF or Impôt de Solidarité sur la Fortune; wealth tax.

Over 800 000 up to 1 300 000 is 0.5%, then 0.7% from there to 2.57 ME etc...

You have 30% abatement off your main home.

If you need any help feel free to contact me.


(Diana Pinnell) #15

Thanks to all, our return has been filed online and it only took 5 mins! We also know what our tax liability will be for the next year and can budget for the 3 payments. If anyone is dubious about filing on line, it is very easy. You can browse through, check the prefilled contact and other details and then leave it and come back later, and when you do go back you can correct any errors. It is very user friendly and not at all daunting. We pay our taxes fonciere & habitation online and only need a cheque for the water charges.

Bon Courage!


(Julia Grange) #16

Yes Diana, UK bank interest goes in 2TR. If the left-hand part is pre-filled with French bank account interest, cross that figure through and add it to the UK bank interest that you are transferring from the pink form and put the total of both in the righthand box TR.


(Pauline Vincent) #17

You can find the rate in the April issue of French Property News which most people seem to use.


(Diana Pinnell) #18

Thanks, Terry, invaluable, simple help from that article.


(Diana Pinnell) #19

When I opened our UK Santander accounts last year I disclosed that we are taxed in France, but wasn't asked anything about our French tax references. I will give the account numbers on the French return, and am declaring the interest earned, but how Santander and the French taxman liaise is currently unclear. Banque de Savoie already notifies the taxman of the interest earned (0 this year) and the form arrives pre-filled with that, so no doubt they have their methods.

We are a bit unusual in that all our income is paid into our UK accounts and we make one transfer per year into our French account to pay the household bills and taxes and spend the rest via plastic cards, so we have to be scrupulously honest about UK income on our French return.


(Terry Williams) #20

I've never filed on line, Diana, but on the paper return all pensions go in the same box. You just add them together and put them in 1AS. I add up my French, UK state and UK company pensions and insert the result. 1AT appears to be for pensions paid as a capital (lump?) sum but I'm no expert on that particular kind of pension.