Wealth tax forms sent out

WEALTH tax forms are being sent out today to people eligible to make a declaration on the “traditional” wealth tax form - 2725.

This concerns people who have previously declared net wealth of €2.57million or more. Also eligible to pay wealth tax this year are people who had wealth of more than €1.3million, however they have to declare alongside income tax on the complementary income tax form 2042C.

There are significant changes to the French ISF wealth tax this year and we have updated our Connexion guide on the topic to explain who pays this year, when and how, as well as how to work out the amount you are due to pay, ways to reduce your tax payable etc.

The biggest change involves a return to taxation of wealth according to multiple rising bands, as opposed to the simplified system brought in by Nicolas Sarkozy last year, which involved one of two fairly low rates on the whole of a person’s wealth.

However, this year a one-off top-up tax levied by the Hollande government last autumn has gone.

Please note that it is up to the individual to obtain forms and make a declaration if they had sufficient wealth on January 1 this year. Not being sent forms is not considered a reason not to declare. They can be obtained via the site Impots.gouv.fr

The Connexion guide is available for download at €7.50 by clicking here