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11/05/2008, 15:48 Sunday Driver Joined on 07/10/2005 Deux Sevres (79) Posts 2,752 Re: Social Charges How do you work that one out?  France doesn't apply a tax/charges burden in excess of 100%......     Waddya mean it's only Saturday......    Report

16/05/2008, 11:35 lmc Joined on 16/05/2008 Posts 26 Re: Social Charges Hi Just a note about the tax on interest from savings.  The flat rate applied by the bank on many kinds of savings accounts is indeed 16%.  HOWEVER, you do have a choice as to whether you want the bank to apply this rate and receive your interest net of tax or whether you do not want them to apply the rate and receive your gross sum of interest. The only people who the 16% flat rate works out better for are people who are already in the 40% tax bracket.  If you have chosen to receive your interest net of tax you can always change your mind.  You just need to see your banker about it and sign a form. If you choose to receive the gross sum then you must declare it on your tax declaration and your tax liability will then be calculated from it on the progressive income scale.  It is a bit more paperwork for you but you do end up better off. This does not apply to EVERY type of savings account but definitely to lots of them.  Go check with your bank. Lisa        Report

16/05/2008, 16:13 Ron Avery Joined on 29/11/2004 Aveyron 12 Posts 3,099 Re: Social Charges Just a note about the tax on interest from savings.  The flat rate applied by the bank on many kinds of savings accounts is indeed 16%. That only applies to OFF SHORE accounts surely and they still have to be notified to the French tax man whether offshore or not  Ron in the Avey-ron    Report

17/05/2008, 8:46 tigerfeet Joined on 01/10/2007 Posts 91 Re: Social Charges  Sunday Driver wrote: As per the FAQ, OAP and company pensions are exempt from social charges where you hold an E-form, but annuity based pensions and other investment income is not. What happens with a couple which only one has the E121 the other can be covered health wise but are both still exempt from social charges ?    Report

17/05/2008, 9:20 Ron Avery Joined on 29/11/2004 Aveyron 12 Posts 3,099 Re: Social Charges As they are taxed as a couple, have an E 121 as a couple,  I'm sure you can work that one out for yourself. Ron in the Avey-ron    Report

17/05/2008, 10:15 milkeybar kid Joined on 06/03/2007 Posts 51 Re: Social Charges  Ron Avery wrote: Just a note about the tax on interest from savings.  The flat rate applied by the bank on many kinds of savings accounts is indeed 16%. That only applies to OFF SHORE accounts surely and they still have to be notified to the French tax man whether offshore or not  Off shore flat rate in 2006 was 18% steadily rising, at some point 32%. These days it is to no advantage - there is no hiding place ( and quite right).Yes, we declared it in France so as to pay social charges. errr and we had a reimbursement from France of the 18% we paid! I see no advantage in paying the withholding tax, better to have it paid gross off shore and the lesser tax in France. I can't see the advantage of paying a withholding tax , can you? or  am I missing the plot     Report

17/05/2008, 11:50 Nell Joined on 14/08/2007 24 Posts 73 Re: Social Charges E121 - If covered by this, am I correct in thinking that I am exempt from Social charges?? Brain hurting from the whole tax form issue, so a simple reply of yes or no would be welcome and if the answer to my question is Yes I will be more than happy.... Oh - just one more question - How does the taxman know I have an E121 (on ill-health grounds), is there somehere on the form to put this that I have missed? Roll on June, when thoughts of tax forms will be a distant memory and the sun will shine all day every day!!!!    Report

17/05/2008, 12:08 gosub Joined on 15/01/2008 North 47 Posts 148 Re: Social Charges No Les    Report

17/05/2008, 12:27 Ron Avery Joined on 29/11/2004 Aveyron 12 Posts 3,099 Re: Social Charges  Nell wrote: E121 - If covered by this, am I correct in thinking that I am exempt from Social charges?? Its all in the FAQ's, but for clarity, you are only exempt from sociale charges on pensions, not paying sociale charges on unearned income.  If you follow the advice in the FAQs in relation to exemption from CRDS  and write what is described they will know that you have an E121because you will tell them Ron in the Avey-ron    Report

17/05/2008, 13:00 Nell Joined on 14/08/2007 24 Posts 73 Re: Social Charges Cheers Ron. Believe it or not I had already written that statament on my 2047 form, but had forgotten about it! Is it time for a glass of vin yet?    Report

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