France

Wealth tax in an extra tax in France that affects wealthier residents. It is charged on the value of your household’s worldwide assets each year.

Are you protecting your savings and investments from unnecessary taxation in France? You may need to reconsider the way you hold your investments.

In our view, there are five key aspects that you need to address to ensure you obtain the optimum investment portfolio to suit you and your particular situation.

France imposes forced heirship, so you cannot use your will to leave assets freely. However under Brussels IV you can opt for UK succession law to apply to your estate.

We hope Brexit doesn’t prevent anyone from fulfilling their dream of living in France. There are steps you can take to protect your finances from the uncertainty surrounding the UK’s exit from the EU.

The lifetime allowance limits how much you can hold in total pension benefits without triggering an extra tax charge of 55% or 25%.

With Brexit looming and more options than ever, pensions can also be a source of concern and confusion, but expatriates in France can find rewarding opportunities.

Estate planning in France is made far more challenging by ‘forced heirship’ succession law and inheritance tax rates of up to 60%. The regime is particularly daunting for complex family situations.

France’s budget introduces an income tax reduction for low earners and confirms the PAYE system will start next year. There are no changes to wealth tax and only a minor one to succession tax.

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.