[dijoncanary]

Following the nasty experience of 2008 with the exchange rate disaster after our house sale in UK, our next decision is how best to bring over a large redundancy payment from the UK.
Does anyone have experience of the rules regarding bringing over such payments? Presumably the tax office will have something to say, or is it not taxed as in the UK?
Any help or a point in the right direction would be appreciated!

 

[Bevdeforges]

Whoa, where are you now? France or the UK?

If you're talking about bringing over your redundancy payment from a couple years ago to France, that's a simple transfer of capital. As long as you initially received the payment while resident in the UK, the French fisc really isn't involved in your transfer of it at all.

If you're getting a redundancy payment from a French employer while resident in France (and subject to French taxes), I believe there is a significant "break" on the taxation of severance payments here in France. At the moment, my computer system here is acting up, so I can't check it out for you. But if this is your case, check the fisc website or any of the tax advice publications currently showing up on the newsstands in preparation for filing your 2011 taxes.
Cheers,
Bev

 

[parsnips]

Following the nasty experience of 2008 with the exchange rate disaster after our house sale in UK, our next decision is how best to bring over a large redundancy payment from the UK.
Does anyone have experience of the rules regarding bringing over such payments? Presumably the tax office will have something to say, or is it not taxed as in the UK?
Any help or a point in the right direction would be appreciated!

Hi,
I assume you are french resident.
If the redundancy money has been paid into a UK bank, you could bring it over a bit at a time, and say nothing. If it is declared here there is generally a tax-free element equal to either ;
1. Half the amount received or;
2. Twice your gross salary in the year preceding the redundancy.
The balance can be subjected to the system of étalement or quotient, which reduces the amount of tax due on exceptional sums.
The amount exonerated cannot exceed app.210 000€

 

[dijoncanary]

Many thanks to you both for your replies, apologies for the delay in getting back. The payment is from a UK employer and we have been living in France nearly 6 years, so all the info is relevant. (Apart from the 210 000euro!)