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News / Saving Tax In France And Investing In Sterling

Saving Tax In France And Investing In Sterling

19.04.12

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The usual advice for British expatriates is to match the currency of their assets to that of their liabilities, so if you live in France your savings and investments are in Euros. Th

The usual advice for British expatriates is to match the currency of their assets to that of their liabilities, so if you live in France your savings and investments are in Euros. This avoids both currency exchange risk and costs.

You may also have other considerations however and wish to keep some savings in Sterling. For example you will return to the UK in the future, or your heirs are in the UK, or you have concerns about the Euro. Many people are uncertain whether they should invest in Euros in French authorised arrangements to get the local tax planning benefits, or keep investments in Sterling and risk paying more tax than necessary.

It is a misconception that if you transfer funds into French authorised investment vehicles you always need to transfer into Euros. With some products you can elect which major currency to be invested in.

It is therefore possible to have a tax plan where your investments are denominated in and biased towards Sterling at the same time as being structured to save tax in France ? the best of both worlds. Effective tax planning is all about flexibility and adaptability, so you should choose arrangements where you can switch between currencies as necessary.

Blevins Franks have been providing integrated tax planning and wealth management since 1975. The strategies we recommend are always based on your personal circumstances, objectives and concerns.

The tax rates, scope and reliefs may change. Any statements concerning taxation are based upon our understanding of current taxation laws and practices which are subject to change. Tax information has been summarised; an individual must take personalised advice.

Tax rates, scope and reliefs may change. Any statements concerning taxation are based upon our understanding of current taxation laws and practices which are subject to change. Tax information has been summarised; individuals should seek personalised advice.
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