Quote:
Originally Posted by tonygo
My wife and I are planning to retire to France in March 08 (I will be 65 yrs old)
Our french property will be paid for and therefore we will be classed as french residents for tax purposes
Total income approx will be 16000 euros pa, consisting of UK state and occupational pension.
Can anyone tell me how much approx I would have to pay in french income tax.
many thanks
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If this is your approx total income then your tax would be approx:
16000-1600(allowance)=14400x0.055-625.57=166.43 , however a device called the "decote" would mean you would pay no tax.(based on 2007 tax rates)
In fact up to approx 19000€ there would be no tax, which would cover bank interest etc; which you may have forgotten to mention above.
With a simple situation like yours using an accountant would be throwing away money for nothing. When the time comes to do your declaration you can get help on this forum.
Before I get replies saying I have not used the official formula, the above is a simplified form used in the "Le Particulier" tax guide which gives equivilent results