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Does equity release lower IFI wealth tax in France?
Reader also asks if properties rented out to someone else are exempt
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How to make your money for retirement in France last as long as possible
The more years we survive, the further our savings must last to maintain our standard of living
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Where to find help with important admin in France
A website and phone helpline exist to help with all kinds of complex documents and processes
Reader wins a €1,200 French social charges refund
A reader is to receive a €1,200 refund of French social charges after he was prompted by an August 2019 Connexion article to apply to his tax office
He said: “Your article and advice helped and more than repaid my subscription!”
The reader, from Haute-Garonne, had been telling the tax office for around 10 years that he and his wife should not pay the charges.
Their income was UK state pensions, an NHS pension, a BT pension and UK bank interest.
He said it is not clear which gave rise to the charges for 2016-18 but he argued for refunds due to being pensioners with healthcare paid for by the UK via the S1 scheme.
Two factors may be involved. First, there is a charges exemption on foreign pension income for those who are “not a burden on France’s healthcare system”.
Secondly, courts have confirmed a right to refunds of charges on property capital gains, rental and investment incomes – including bank interest – of non-residents and residents affiliated to another EU/EEA social security regime (as of 2019 this income is liable to lower charges at 7.5%).
It is still possible to claim for charges levied in 2018, by the end of 2020. The deadline has passed for earlier years.
