No need to declare Paypal accounts on your tax return!

I have been a little concerned that I had not declared my Paypal account (which is of course Luxembourg…) so did a bit of searching around on the internet.

I declare online, and have always, each year, added all the details of our accounts in the UK and elsewhere, but had not thought of Paypal when I started this all those years ago…

Anyway, the good news is that there is NO NEED to declare this as long as:
It used for small online payments
It is linked to a normal French bank account which funds it/receives any income
The total of any sales in the year is not more than Euros 10,000 - using ANY online payment system, PayPal included
You have the account in a personal capacity and not as a trader

Whew! So pleased that I am not risking a fine for an account that I use to make payment of around 150 euros a year.

Here is the link if you read French:
http://www.experts-comptables.fr/print/infos-dexperts/fiscal/la-declaration-des-comptes-ouverts-letranger-et-des-comptes-paypal---149

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There was a court ruling a few years back that business paypal accounts need to be declared but personal paypal accounts don’t. I remember finding the link and putting it on another thread a month or two back.

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http://www.survivefrance.com/t/it-is-essential-that-you-declare-any-accounts-and-investments-held-outside-of-france/13131

Glad that tallies with what I have found now, thanks for the confirmation Anna. I think the essential for those of us living in France is that is needs to be linked to a French bank account - so if your Paypal account is linked to a UK bank account, you should declare it…

Indeed, Graham, all accounts need to be listed even if in your mind they are dormant.

I am opening a savings account for our new grandson when I am in the UK shortly, and HSBC politely asked me to bring a proof of address as they had not seen one for a while - and we are Premier customers with them, and well known.

So, yes, proof of address will be required more and more by your UK banks if you want to open an account, or even keep an existing one open.

And the TIN was recently requested by HSBC in Nice…

Lots of ‘Big Brothers’ out there!