France

The New Year is a good time to review your financial planning for France. Is it up to date? There are various elements you should consider, from investments, to pensions, to tax and estate planning.

A reduced lifetime pension allowance could put your UK retirement savings in the firing line for 55% tax, but expatriates in France can find opportunities to safeguard their pension funds.

You need to be extra careful with your tax planning these days. Make sure it is up to date with all the various tax changes and is fully compliant. You also want to check that you are not paying more tax than necessary.

Both residents and non-residents pay capital gains tax on French property, but the main home is exempt and tax can be reduced on second homes.

Capital gains on shares are taxed as income in France. Reliefs are available after two years. Look for tax-efficient ways of holding your shares.

It is not difficult to appreciate why so many people fall in love with France and consider making it their home. There are, however, some tax and financial essentials you need to plan for if you are to get the best out of living in France.