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Social charges on UK accounts
For the first time in 24 years social charges have been applied to my bank interest, which I receive paid gross from my British bank in the UK. Should I contest this? I do not pay tax as my income is just under the tax bracket after all deductions. I do pay around €450 social charges on gains from my French assurance vie, however this is the first time on interest from the UK. I have a valid S1 health form. J.P.
INTEREST from UK banks, paid in the UK, is liable to the French social charges for residents of France and always has been.
The only two reasons for which this may not have been done are that the tax office previously made an error, or the amount that was due might previously have been below the minimum threshold for collection.
However, social charges being levied on UK bank interest is correct and normal.
Reader's query answered by Hugh MacDonald
If you have a money query send it to news@connexionfrance.com We select questions for answer every edition
- The information here is of a general nature. You should not act or refrain from acting on it without taking professional advice on the specific facts of your case.
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