Monday, 27 November 2017

Keeping up to date

If you are thinking about moving to France, or are indeed already owning / living in France, at time it can be quite a challenge keeping up to speed with all of the changes that are happening.

Via our Library pages we regularly advise our clients about topical subjects that can impact significantly upon their situation in France.

Here is a flavour of what is already in this section, or about to be added :

Delaying registering for healthcare in France could save tax on your pension 

If you are planning to take your pension as cash, avoiding social charges could make a considerable saving. One of the key concerns for expatriates arriving in a new country is healthcare. While we hope we will not need to use it anytime soon, we need the peace of mind of knowing that we, and our families, have access to healthcare and are covered financially for it. For many British expatriates, therefore, registering with the French system is high on their priority list. Be aware, though, that you should consider the options for your pension fund before you register for healthcare.

Right place, wrong taxes (France) 

UK expatriates living in France need to get their tax planning right and make sure they are paying the right taxes in the right country – getting it wrong could prove costly.

Imagine this scenario: you are a British expatriate, living in France and enjoying the lifestyle you have dreamed about. Then you receive a letter from your local tax office claiming you owe them thousands of euros in unpaid taxes, interest and penalties.

What happens if you sell your French home after leaving France? 

The Constitutional Court ruled that the main home capital gains tax and social charges exemption is only available to French residents Capital gains on the sale of a property in France are liable to both French tax and social charges. Your home is exempt from both, provided it is your main home at the time of sale.

There is a 12-month ‘grace period’, but the Constitutional Court has just ruled that this does not apply if you have left France.

Three changes to UK domicile rules that could cost you money 

Proposed changes to the UK domicile regime have come into effect after being put on hold over the summer – and could prove costly for expatriates. Having ‘paused’ their Finance Bill during the upheaval of the snap general election, the government is now passing it through parliament as law, with changes backdated to take effect from 6 April 2017.

Whether you are planning to move to another country or currently live abroad and thinking about returning to the UK – even temporarily – these changes could affect your tax liabilities.

Make sure you understand what the new rules mean for you and your family.