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Discussion Starter · #1 · (Edited)
Hello,

I have been living in Paris for over three months now having moved here to live with my girlfriend and her parents in their home. The move is permanent.

I am a self-employed FOREX (foreign exchange) trader. The money I recieve from trading the Forex is transferred from a US based broker into a UK based account.

My questions are:

Do I have to pay tax on my Forex earnings in France or the UK? If so, how and where do I register?
How and where do I become registered for help with health insurance?

Please can someone advise as I am new to all of this!
 

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There isn't really a category in France for being "self-employed" as such. You need to set up some form of business entity - the very simplest is this new "auto-entrepreneur" statute, though it is limited to businesses with a certain level of turnover. If your gross revenue is more than the limit, then you need to set up some form of business, usually an EURL or some other "one-person" type of business entity.

You should probably check with the local Chambre de Commerce, where there is usually some sort of assistance available for entrepreneurs in setting up their businesses. Once you have your business registered (and depending on how that business is categorized) you then are registered with the various "caisses" for health insurance, retirement, etc. They will contact you about paying your cotisations (usually quarterly).

And as long as you are considered "resident" in France, you will be taxed in France. It depends a bit on what business form you decide on, but for 2009, you just file a tax declaration for the year from the date you moved here. (Tax declarations are usually due in May for the prior calendar year, so you have a bit of time.)
Cheers,
Bev
 

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Discussion Starter · #3 ·
There isn't really a category in France for being "self-employed" as such. You need to set up some form of business entity - the very simplest is this new "auto-entrepreneur" statute, though it is limited to businesses with a certain level of turnover. If your gross revenue is more than the limit, then you need to set up some form of business, usually an EURL or some other "one-person" type of business entity.

You should probably check with the local Chambre de Commerce, where there is usually some sort of assistance available for entrepreneurs in setting up their businesses. Once you have your business registered (and depending on how that business is categorized) you then are registered with the various "caisses" for health insurance, retirement, etc. They will contact you about paying your cotisations (usually quarterly).

And as long as you are considered "resident" in France, you will be taxed in France. It depends a bit on what business form you decide on, but for 2009, you just file a tax declaration for the year from the date you moved here. (Tax declarations are usually due in May for the prior calendar year, so you have a bit of time.)
Cheers,
Bev
So what this means is that a professional forex trader needs to be a registered business? Once a registered business I will have to fill in a tax return at the end of the year.

As my income will be into my UK bank account, would I need to declare my forex gains and would it be considered tax evasion if I did not?
 

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Where you are paid from or where you have your money deposited doesn't matter. What counts as far as taxes are concerned is where you are resident when you do whatever it is you do to earn your money.

Besides, in order to register for the French national health care you need to be contributing in the form of "cotisations" - which are based on your earnings. No contributions, no health insurance.
Cheers,
Bev
 

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Discussion Starter · #5 ·
Where you are paid from or where you have your money deposited doesn't matter. What counts as far as taxes are concerned is where you are resident when you do whatever it is you do to earn your money.

Besides, in order to register for the French national health care you need to be contributing in the form of "cotisations" - which are based on your earnings. No contributions, no health insurance.
Cheers,
Bev
Many Thanks for taking the time to reply.

I am awaiting a call back from the HMRC who I am sure will request a p85. THis I hope will prevent me from getting taxed twice.

I will visit my local tax office in Paris and register as their version of "self-emplyed" and be prepared to fill in a tax return for next years earnings. I read that the tax office will also inform the UK that I am paying French taxes if I submit a specific form with my tax return.
 

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You won't get taxed twice, no matter what. On the French tax forms, you declare everything, but then you indicate your foreign source income on an additional form - where you can indicate what taxes you've already paid (or at least what jurisdictions you've paid taxes to). The tax examiner then makes the appropriate adjustment for the income already taxed elsewhere.

I don't think it's the tax office where you register your business. Check the chambre de commerce. But chances are, you'd have no problem setting up your business as of January, 2010, thus making a nice, clean cut-off (at least for French tax purposes).
Cheers,
Bev
 
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