Sunday, 31 July 2011

Sunday, 31 July 2011

Many tax changes

2011 is proving to be a good year for those people living in France as far as taxes are concerned, with significant changes already made or planned.
The latest changes are concerning UK expatriates who have been affected by the UK's 90 day residence rule. With effect from 6th April 2012, most expats will now be able to spend up to 119 days in the UK, and still remaon a non resident in most cases.
French Wealth Tax has also seen significant changes, with the threshold increased from 800,000 Euros to 1.3 million € (effective 2011), and coming soon, just 2 bands of tax 0.25% between 1.3 and 3 m €, and 0.5% for above 3 m €, (effective 2012).
Succession & Gift Taxes have also changed.
Coming to France offers many financial planning opportunities, especially via QROPS & QNUPS arrangements. The benefits include examption from all UK taxes on death if you have been non UK resident for 5 consecutive years, (a potential saving of 55%). These plans also avoid French succession law and offer other additional benefits.
As usual, new tax laws bring with them new opportunities to plan your finances, (different and better). We are able to offer the best quality Independent Financial Advice via our dedicated contacts, (for whom we are registered introducers).
Peter Elias (Agent Commercial) http://www.allez-francais.com/
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