Premium bond winnings

Could someone please guide me here? In which box on form 2047 do premium bond winnings need to be declared and what is the applicable % of social charges.

Hi Keith and welcome to SF
There is a whole specific thread on tax 2021 with guides here which address your question (and probably some other questions as well) Look at the Help Tax Form 2021 pdf. :slightly_smiling_face:
This topic started June 2020 and whilst your enquiry hasnā€™t changed since, any other matters covered in this topic might well have.

Is there anything you can receive as a resident in France without it being taxed?

There are some tax free peanuts scattered aroundā€¦you can rent a room in your own house (not holiday let but a lodger) and under a certain amount thatā€™s ok. You can sell a few things on leboncoin (but not too much). You can give someone a lift and ask them to pay for the petrol, and you can be paid a small amount for voluntary work you do for associations.

But please donā€™t ask which box these go in on the tax form!

Also the interest on certain specific savings accounts (eg Livret A)

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Arenā€™t the winnings taxable in France just because they are UK, therefore not exempt? I think French lottery etc winnings are tax free.

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UK lottery winnings are also tax free hereā€¦as you donā€™t keep your original stake. The issue with Premium Bonds Is that your original money stays in place so it is treated like interest on a savings account

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Thank you for pointing me in the right direction! Those guides are really helpful- and so is this active forum.

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Makes sense when you think about it - since you keep ownership and can withdraw your money, it is an investment, not a gamble - the anomaly seems to be on the UK side, treating premium bonds differently from other investments.

If one were to win the 1 million pound Premium bond prize, would it be possible to relinquish French residency and return to the UK as a taxpayer within the 8 days before the cash is deposited in oneā€™s bank account? I am all for paying my taxes here in France but having to give up Ā£300, 000 would be very painful. It could buy a nice house back in UK.
Asking for a friend. :slightly_smiling_face:, (and not really expecting to receive a definitive answer to this extremely unlikely scenario).

You donā€™t have to claim the prize immediately so could probably delay claiming it until youā€™re a UK tax resident again.

If you win a million you will get an NS&I financial and tax advisor as they now realise people may need help with those sort of sums. So when you get that phone call ask them to phone you immediately!

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Taxable in France as a capital gainā€¦ winnings from games etc count as tax free because you lose your stake. Premium bonds you keep your stake and thatā€™s why its a capital gain.

Thanks, but I could find no option to defer claiming a prize. Only pay into nominated account or buy more bonds.

Yes, but I wanted to know if one could become non-resident in the 8 day window before receiving the money, therefore avoiding the tax. Itā€™s all hypothetical of course, so really doesnā€™t matter. Thanks for replying.
Oh, just realised , I have declared winnings as interest in the past, I didnā€™t realise it was capital gain. I donā€™t suppose you have a link to this info? Cheers.

Thanks Jane, Iā€™ll bear that in mind when it happens! (bound to be soonā€¦)

If you could do that Iā€™d be a resident of Dubai every pay day! :rofl:

I thought if you won big there was a claim process to go through before the money was handed over?

No, good try but no cigar.

The biggest Iā€™ve won was one thousand pounds, (auto payment) so I donā€™t know. Maybe it was different in the past before online banking became the norm.
I know there exist ā€˜unclaimedā€™ prizes. I presume these were, for some reason, unable to be delivered to the nominated account.