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20/05/2008, 10:11 figa nera Joined on 21/01/2008 Centre Var on the edge of Canjuers Posts 15 tax liability on interest Hello, Sorry if this has been asked before, but Newbie speaking here! I'm getting to grips with my first tax return - doing pretty well considering I have a severe allergy to bureaucracy. Firstly our circumstances - we arrived to reside permanently in France (Var) on 22nd June 2007. So I'm calculating our tax on the basis of income from that date until 31/12. The (main) thing I'm unsure about is how much interest to declare on some UK savings accounts, specifically a case where we closed accounts in Sept. 2007 and the accrued interest was paid on the closure. These accounts 'normally' got interest paid annually on 1st April, so the closing interest covered both 'non-taxable' (April to 21 June) and 'taxable' (thereafter)  periods. So - should I declare the 'taxable' proportion (i.e. roughly 2/3) of the total interest - or is the date the 'gain' was realised the significant factor, in which case I need to include the whole amount. I must say my inclination is the former - but would like to know if there's any regulation which covers the situation. I know this sounds a bit nit-picky, but I've always found it wise to be at my pedantic best with tax people. Many thanks in anticipation.    Report

20/05/2008, 10:44 cooperlola Joined on 05/05/2006 72 - Sarthe - home of les 24 heures du Mans Posts 6,381 Re: tax liability on interest You should declare all the interest earned between the date you moved here and the account closure, afaik.  Not always easy to figure out, in my experience! The allergy to bureaucracy is very common, and not a great thing to suffer from in France. Healthcare Issues Site    Report

20/05/2008, 11:25 Benjamin Joined on 21/08/2005 Vendée South Posts 1,581 Re: tax liability on interest By all means get the figures correct but by the very nature of your first return being a split year the figures won't be looked at too closely. Appear to be existing on tuppence per week from your second year onwards then beware!!  Benjamin Snips, snails and puppy dog tails    Report

21/05/2008, 13:07 figa nera Joined on 21/01/2008 Centre Var on the edge of Canjuers Posts 15 Re: tax liability on interest If the £ continues its current rate of descent I might well be living on tuppence a week!    Report

21/05/2008, 13:30 cooperlola Joined on 05/05/2006 72 - Sarthe - home of les 24 heures du Mans Posts 6,381 Re: tax liability on interest  figa nera wrote: If the £ continues its current rate of descent I might well be living on tuppence a week! Join the club. Healthcare Issues Site    Report

23/05/2008, 9:41 lorna Joined on 27/11/2007 the other Vienne - in Isère(38) Posts 85 Re: tax liability on interest Hi figa nera, Just read through your post and I think my post of yesterday answers your question. An answer as given by HMRC anyway. However if you have apportioned the interest I'm not sure anyone would quibble. You would obviously also need to apportion the tax you claim back from the UK. Link to my post: http://www.completefrance.com/cs/forums/1240240/ShowPost.aspx lorna    Report

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