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Old Nov 19th 2017, 10:57 am   #1
kalmar Male
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Default Closing Assurance Vie account from abroad

Hello all,

I recently moved back to the UK after 5 years in France. I left my french bank accounts in place to deal with things like taxe d'habitation etc. I recently contacted my bank to enquire about closing an assurance vie account that I have held for 3.5 years, and they sent me back a form (cerfa 5000), which they say I need to get completed and stamped by "my local tax authority", in the UK.

I have a few questions that I hope someone can help me with:
  • Has anyone ever heard of this form?
  • Would HMRC even fill this out for me?
  • If they do, does that mean there is no tax to pay in France, or do HMRC reimburse the tax?
  • Will there also be UK tax to pay on this type of account?
  • Does this form also apply to other types of account like PEL?

Thanks for any suggestions or advice that anyone might have !
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Old Nov 19th 2017, 1:03 pm   #2
dmu Female
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Default Re: Closing Assurance Vie account from abroad

Quote:
Originally Posted by kalmar View Post
Hello all,

I recently moved back to the UK after 5 years in France. I left my french bank accounts in place to deal with things like taxe d'habitation etc. I recently contacted my bank to enquire about closing an assurance vie account that I have held for 3.5 years, and they sent me back a form (cerfa 5000), which they say I need to get completed and stamped by "my local tax authority", in the UK.

I have a few questions that I hope someone can help me with:
  • Has anyone ever heard of this form?
  • Would HMRC even fill this out for me?
  • If they do, does that mean there is no tax to pay in France, or do HMRC reimburse the tax?
  • Will there also be UK tax to pay on this type of account?
  • Does this form also apply to other types of account like PEL?

Thanks for any suggestions or advice that anyone might have !
Hi,
Télécharger Formulaire 5000 en anglais (gratuit)
gives the English version of this Cerfa form. Much too long to download, but since Assurances-Vie are taken into account by the Fisc at some point, they obviously want to make sure you keep within sight, wherever you move.
As you haven't had your Assurance-Vie for very long, you may find you have to pay a penalty if you redeem it (i.e. a tax to the Fisc to "pay back" the tax perk when you took out the Assurance-Vie). My late neighbour took out an Assurance-Vie, but not early enough, and her heirs lost out on this part of their inheritance. The "penalty" was deducted from the amount before it was released.
Not so sure about the PEL, my daughters have one each and they've never redeemed them, but
https://www.service-public.fr/partic...sdroits/F16140
gives info on closing a PEL. It doesn't look as though you'd lose out by closing it, only that you'd have less possibility of taking out a loan later to buy property in France.
Hope this is of some help!

Last edited by dmu; Nov 19th 2017 at 1:05 pm.
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