P60 translation / Overseas Accounts

Get some nice boiled sweets or a tube of lysopaïne for her… they help reduce the problems associated with sucking wasps :wink:

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Hummmm me neither! Would like a pointer to the relevant legislation that absolves the need to declare each year. Guess it must also apply to ‘foreign’ assurance vie contracts? Maybe @Stella could post the relevant link? Just seems a bit odd to me when the fines for non declaration are multiplied by the number of years undeclared…

Do remember she works for you - not the other way around!:wink:

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Personally, I would not “guess” any such thing… as I keep saying to folk… if in doubt ask the Tax Folk themselves. :zipper_mouth_face:

and, regarding the 3916…

I have not opened nor closed any accounts …for many years… and the Tax Man has all the details of every account in my name throughout the world.

Such details are held in my File by the Tax Folk… and I was told by the local Tax Folk that I did not need to do the bank account declaration every year, merely advise them of any subsequent openings/closings.

When we sign our Declaration of Revenue… we are signing on our honour… that everything is true, nothing hidden… and I am quite happy to do that every year.

Good, I totally forgot to include it this year - lost so much sleep too :joy:

Don’t lose sleep…

only the “naughty-ones” trying to pull the wool over the Tax Man’s eyes… those are the folk who should be losing sleep. :wink::upside_down_face:

We are doing the best we can… some of us have different experiences… but (hopefully) none of us is trying to do a “naughty”… thus, if the Tax Man calls me and asks me about Bank Accounts… I will discuss calmly and explain where I stand…

If there is something the Tax Man now wants me to do differently… no problem… I refuse to lose sleep… :relaxed::relaxed::relaxed:

Stella I ‘guess’ that simply because overseas bank accounts are covered by the same legislation as AV’s - as you will note from the pop-up warnings when completing this section of your online declaration.

As I said earlier - you do whatever you’re comfortable with. You obviously have a local understanding with your tax office. I’ll keep declaring in lieu of sight of legislation to the contrary - it’s only a few clicks of the mouse after all :stuck_out_tongue_winking_eye::stuck_out_tongue_winking_eye:

Anyone with AV’s obviously needs to do whatever the Tax Man asks of them… whether on-line or on paper…

I don’t have AV’s so never had a conversation with my Tax Folk…

As I say, my best advice is always to talk with the Tax Man… We are all having different experiences… so the one sure thing is that face-to-face conversation… and then following whatever instructions are given…:smiley::relaxed::upside_down_face:

Must confess I don’t recall a pop-up about AV’s… :upside_down_face: I do a very short version… wonder if that misses it out… no idea… but I refuse to lose sleep… :joy::upside_down_face::wink:

Whatever you’re comfortable with…:smirk:

It’s a single pop up about overseas bank accounts and AV’s - you have to acknowledge it before you complete the relevant 2042 section 8 boxes. Obviously it won’t appear if you don’t select / try to check either of the relevant boxes.

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Note: for bank accounts the declaration includes those opened, closed or USED during the year in question

Slightly surprised no one seems to have recommended using The Connexion’s annual French Tax Guide, which gives very precise advice on where and how to declare foreign government pensions - on the main 2042, section 8, box 8TK (gross) as ‘pension de la fonction publique britannique’; the same info must also declared in supplement 2047 Section 6. Both sections relate to foreign income whose is tax deducted at source and are important to avoid double taxation.

Apropos the above discussion on 3916, it’s worth adding that when starting to complete this section you first need to specify how many pages you require (one for each overseas bank/assurance account). I only discovered part way through that I’d insufficient pages and then spent ages trying find out how to add an extra one. My wife and I are retired and far from wealthy, but due to our working histories we need to declare six overseas accounts in three different countries!

However, I’m sure that there must be many others out there who can top that, so I look forward to being topped (so to speak, or rather ‘write’).

Hope at least some of the above is of use to someone…

Really? Could that be because it wasn’t the query raised by the OP?

Personally I prefer to use French source advice…

Mark… what does The Connexion’s French Tax Guide say about P60 Translation ??

but as usual, an incorrect exchange rate.

The original post was in relation to a P60 for a UK government pension, which is taxed at source, and whether this needed to be translated for a French tax return. I understand this is a first French tax return and isn’t being done online by the respondent, but it will be completed online on their behalf by whoever is dealing with it in the tax office; for that reason I think my info is useful.

If one follows my paraphrased guidance, everything should go in the correct place on the form and the local functionary should be satisfied: there shouldn’t be any requirement for a translation of the P60, though one might need to convert its sterling into euros.

Mark - no, the info you provided is incomplete and therefore incorrect, one of the dangers of quoting The Connexion! :wink:

From local experience, there seems to be considerable flexibility on this, my tax office (Aveyron) and that of retired financial industry friends in the Cantal are happy to work with P60s and other annual statements based on the UK tax year;

I’ve never been asked for a translation and, in fact, only provided P60 backup in the early years… :relaxed:

I was just wondering if this was something about which The Connexion had recent information … :zipper_mouth_face:

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For info : If you do your declarations online - you’re not required to provide any backup paperwork - unless of course it’s requested at a later date, investigation etc…:stuck_out_tongue_winking_eye:

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The Connexion’s guide went to press before the new forms were available. Instead it was based on the 2018 forms, and the 2019 ones differed in some respects, but the coding seemed the same and this info enabled me to put everything in the correct boxes across four sets of forms.

I’m an art historian, not an accountant so considered this quite an achievement.