Is Small Inheritance Taxable?

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Loup-garou
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Re: Is Small Inheritance Taxable?

Post by Loup-garou » Sat May 05, 2018 6:10 pm

https://smartexpat.com/france/how-to-gu ... ession-tax

The above was put together in 2017 I think and should give you peace of mind.

Nomoss
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Re: Is Small Inheritance Taxable?

Post by Nomoss » Sat May 05, 2018 6:56 pm

Thank you Loup-garou. Most useful.

I hadn't considered that the usual inheritance laws would apply for inheritances coming from outside France.

In my own case, I would not have been liable in 2005, as we were still resident in Spain until 2003.

parsnips
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Re: Is Small Inheritance Taxable?

Post by parsnips » Mon May 14, 2018 12:07 pm

Hi,
nomoss is correct ; the 1963 treaty exempts all inheritance from a UK resident deceased to a french resident (except if the inheritance includes french-sited real estate) .
See a copy here : -https://www.google.com/search?q=uk+fren ... =firefox-b

jardiniere
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Re: Is Small Inheritance Taxable?

Post by jardiniere » Mon May 14, 2018 2:34 pm

I hadn't noticed there were more replies but am now more confused.

Nomoss links to smartexpat.com which says:
a gift or inheritance is also taxable if the recipient is resident in France and has been so for at least six of the ten years prior to the year in which the gift or inheritance is received.
but then parsnips says:
the 1963 treaty exempts all inheritance from a UK resident deceased to a french resident (except if the inheritance includes french-sited real estate) .
We have been living here for more than 10 years so it seems the inheritance is taxable here. Have I misunderstood?

Nomoss
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Re: Is Small Inheritance Taxable?

Post by Nomoss » Mon May 14, 2018 3:40 pm

jardiniere wrote:
Mon May 14, 2018 2:34 pm
I hadn't noticed there were more replies but am now more confused.

Nomoss links to smartexpat.com. ...................
Loup-garou posted the link to that site.

I posted a link to the 1963 treaty mentioned by Parsnips, and an old link to an article in the Connexion (which, I don't regard as a reliable source, but posted as an opinion)

Rob
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Re: Is Small Inheritance Taxable?

Post by Rob » Mon May 14, 2018 6:16 pm

Hi,
Had always taken the view that this covered by the Treaty as per Parsnips post. However, a while ago I, found the Impot site disagrees. According to the site -
Death of Non-Resident
Taxable assets =
Assets located in France and abroad, if one of the heirs was a French resident for at least six of the last ten years, prior to death.
A non-direct heir must make a declaration for sums exceeding 3000€


If it needed to be declared, it would be within 12mths of the death.

Nomoss
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Re: Is Small Inheritance Taxable?

Post by Nomoss » Tue May 15, 2018 4:39 pm

Rob wrote:
Mon May 14, 2018 6:16 pm
Hi,
Had always taken the view that this covered by the Treaty as per Parsnips post. However, a while ago I, found the Impot site disagrees. According to the site -
Death of Non-Resident
Taxable assets =
Assets located in France and abroad, if one of the heirs was a French resident for at least six of the last ten years, prior to death.
A non-direct heir must make a declaration for sums exceeding 3000€


If it needed to be declared, it would be within 12mths of the death.
Hi, Rob, and welcome to the forum.

Could you please post a link to the source of the above information?

It is not clear from your translation that this applies to French residents inheriting assets located in the UK from UK residents, which is specifically covered by the Treaty mentioned.

My feeling is that this is the default situation for cases not covered by specific treaties.

Rob
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Re: Is Small Inheritance Taxable?

Post by Rob » Tue May 15, 2018 7:55 pm

Hi Nomoss and thanks,

Firstly, this and a lot of other tax issues are already in english on the impot site, so no translation on my part (Its a secret though so don't tell anyone).

The link =

https://www.impots.gouv.fr/portail/inte ... nce-france

Hope that works!

By the way, still having trouble making this comply with the treaty, so in no way saying this info is correct. Just putting it out there for discussion.

Hopefully can get the right answers for the OP in the end.

Nomoss
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Re: Is Small Inheritance Taxable?

Post by Nomoss » Tue May 15, 2018 8:11 pm

Thanks, Rob.

The translation is pretty awful as far as legal clarity is concerned. For instance by "transferred" do they mean transferred from another country to France?
Probably not, but of course they would say the French text prevails when they provide a crappy translation. They might mean "received", not "transferred", but who knows?

In any case, I believe the Treaty overrides this statement, which is just an inept translation of some functionary's interpretation.

Rob
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Re: Is Small Inheritance Taxable?

Post by Rob » Tue May 15, 2018 8:28 pm

Hi Nomoss,

I thought the same, but its in French also

https://www.impots.gouv.fr/portail/inte ... -en-france

I had a chat on this subject a while ago with my notaire and she said the same as the impot site. The only thing that differed was that named bene on UK assurance de vie would be taxed only in UK.

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