CGT and Solidarity Tax
Oct 11th 2020, 10:28 pm
#16
Just Joined
Thread Starter
Joined: Aug 2020
Posts: 27
Re: CGT and Solidarity Tax
Oct 12th 2020, 7:05 am
#17
Lost in BE Cyberspace
Joined: Apr 2008
Location: Hérault (34)
Posts: 8,890
Re: CGT and Solidarity Tax
Hi, sorry for any confusion with my example. Basically we are married and my husband has children from first marriage and I do not. Our current Wills states whoever dies first then the remaining spouse gets everything. Then when that spouse dies the house and anything else is split between his children and some of my relatives with his children getting a bigger share. Therefore we now know we can draw up something with the Notaire that basically states that when one of us dies the wishes in the UK Will are you be carried out.
In your case, your step-children would have to pay 60% of the value of what you bequeath them, since they are unrelated to you, and your own relatives would have to pay less, depending on your relationship.
https://www.service-public.fr/partic...sdroits/F14198
indicates the allowances (abattements) and tax (droits) to be paid for each level of relationship. As said, French Taxe de Succession must be paid on all French property, whoever inherits, wherever....
HTH
P.S. And no, the payment of taxes will never end, unless you don't own property and your income is below the threshold!
Last edited by dmu; Oct 12th 2020 at 7:08 am.
Oct 12th 2020, 9:44 am
#18
Just Joined
Thread Starter
Joined: Aug 2020
Posts: 27
Re: CGT and Solidarity Tax
I was in the same situation, but had two children with my (French) OH. On the Notaire's advice, he organised his Succession in advance, so that each of his children would inherit the same value, with the result that we two had usufruct on all his property which his children owned before he actually died. I myself have usufruct on the property owned by my two children, but not on that owned by his own children. He did it mainly by gifting over the years, but the Notaire will advise on your situation.
In your case, your step-children would have to pay 60% of the value of what you bequeath them, since they are unrelated to you, and your own relatives would have to pay less, depending on your relationship.
https://www.service-public.fr/partic...sdroits/F14198
indicates the allowances (abattements) and tax (droits) to be paid for each level of relationship. As said, French Taxe de Succession must be paid on all French property, whoever inherits, wherever....
HTH
P.S. And no, the payment of taxes will never end, unless you don't own property and your income is below the threshold!
In your case, your step-children would have to pay 60% of the value of what you bequeath them, since they are unrelated to you, and your own relatives would have to pay less, depending on your relationship.
https://www.service-public.fr/partic...sdroits/F14198
indicates the allowances (abattements) and tax (droits) to be paid for each level of relationship. As said, French Taxe de Succession must be paid on all French property, whoever inherits, wherever....
HTH
P.S. And no, the payment of taxes will never end, unless you don't own property and your income is below the threshold!
Oct 12th 2020, 10:05 am
#19
Lost in BE Cyberspace
Joined: Jan 2012
Location: Dépt 61
Posts: 5,254
Re: CGT and Solidarity Tax
I think you are worrying too much. Yes France's rules and regs are different from the UK and yes they can be quite complex, but you're not expected to know them all chapter and verse. What's important is that you are aware of all the areas that you will need to address, you get the ball rolling by consulting the right people in good time, then you follow their advice. It sounds like you are doing this - notaire for inheritance issues, tax adviser such as Blevin Franks for tax issues, and hopefully you know the French websites to go to regarding residency issues. Don't turn the move into a nightmare by worrying about anything and everything - and I say that as a world-beating worrier!
Could be wrong but I thought dmu was referring to the income tax threshold. That's the same for everyone, it's published on the government website each year when the annual tax exercise starts, but it doesn't tend to change much year on year.
Oct 12th 2020, 11:35 am
#20
Just Joined
Thread Starter
Joined: Aug 2020
Posts: 27
Re: CGT and Solidarity Tax
All you need to do is explain your situation to a notaire, and tell him what you want to achieve.
I think you are worrying too much. Yes France's rules and regs are different from the UK and yes they can be quite complex, but you're not expected to know them all chapter and verse. What's important is that you are aware of all the areas that you will need to address, you get the ball rolling by consulting the right people in good time, then you follow their advice. It sounds like you are doing this - notaire for inheritance issues, tax adviser such as Blevin Franks for tax issues, and hopefully you know the French websites to go to regarding residency issues. Don't turn the move into a nightmare by worrying about anything and everything - and I say that as a world-beating worrier!
Could be wrong but I thought dmu was referring to the income tax threshold. That's the same for everyone, it's published on the government website each year when the annual tax exercise starts, but it doesn't tend to change much year on year.
I think you are worrying too much. Yes France's rules and regs are different from the UK and yes they can be quite complex, but you're not expected to know them all chapter and verse. What's important is that you are aware of all the areas that you will need to address, you get the ball rolling by consulting the right people in good time, then you follow their advice. It sounds like you are doing this - notaire for inheritance issues, tax adviser such as Blevin Franks for tax issues, and hopefully you know the French websites to go to regarding residency issues. Don't turn the move into a nightmare by worrying about anything and everything - and I say that as a world-beating worrier!
Could be wrong but I thought dmu was referring to the income tax threshold. That's the same for everyone, it's published on the government website each year when the annual tax exercise starts, but it doesn't tend to change much year on year.
Oct 12th 2020, 11:52 am
#21
Lost in BE Cyberspace
Joined: Apr 2008
Location: Hérault (34)
Posts: 8,890
Re: CGT and Solidarity Tax
All you need to do is explain your situation to a notaire, and tell him what you want to achieve.
I think you are worrying too much. Yes France's rules and regs are different from the UK and yes they can be quite complex, but you're not expected to know them all chapter and verse. What's important is that you are aware of all the areas that you will need to address, you get the ball rolling by consulting the right people in good time, then you follow their advice. It sounds like you are doing this - notaire for inheritance issues, tax adviser such as Blevin Franks for tax issues, and hopefully you know the French websites to go to regarding residency issues. Don't turn the move into a nightmare by worrying about anything and everything - and I say that as a world-beating worrier!
Could be wrong but I thought dmu was referring to the income tax threshold. That's the same for everyone, it's published on the government website each year when the annual tax exercise starts, but it doesn't tend to change much year on year.
I think you are worrying too much. Yes France's rules and regs are different from the UK and yes they can be quite complex, but you're not expected to know them all chapter and verse. What's important is that you are aware of all the areas that you will need to address, you get the ball rolling by consulting the right people in good time, then you follow their advice. It sounds like you are doing this - notaire for inheritance issues, tax adviser such as Blevin Franks for tax issues, and hopefully you know the French websites to go to regarding residency issues. Don't turn the move into a nightmare by worrying about anything and everything - and I say that as a world-beating worrier!
Could be wrong but I thought dmu was referring to the income tax threshold. That's the same for everyone, it's published on the government website each year when the annual tax exercise starts, but it doesn't tend to change much year on year.
