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!
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€