Any opinions on whether cashback is income which is taxable in France e.g. as ‘interest’. I see there’s some cashback sites on here (from 2011) and a few references to supermarkets. Apart from cashback sites (e.g. top cashback) I’m also talking about the ones HMRC designate as cashback - e.g. Barclays blue rewards, Halifax rewards.
I understand ISA’s and even premium bonds are considered interest but not seen much on cashback / rewards…
And of course - presume no need to declare a cashback account?! (obs yes if its a bank reward account)
You can see the question about 1AS and 1AM by looking at the HOW TO DECLARE guide above page 31
You probably can’t delete it because the figure is supplied from elsewhere on the return.
@graham
I’m set up as an ME, a freelance technical writer and editor. Virtually all of my clients are UK companies. Since moving to France some years ago, all my invoices to UK companies (which do comply with the French rules) are paid into my UK bank account. And I then transfer the money from there into my French business account as soon as its available in the UK account. I don’t use the UK account for anything other than as a temporary depository for my earnings, which are all declared in France. All fine so far.
Given that I don’t use the UK account for anything other than what are (effectively) transfer purposes, does this count as ‘business use’ for the purposes of the 3916/3916bis account declarations? My French business account is where all the action happens in terms of paying cotisations etc.
I’m just a bit confused about what counts as business use. There doesn’t seem to be a definition anywhere that I can find. What are the implications of getting it right or wrong?
Thanks for any thoughts/info/help on this - much appreciated!
Hi and welcome to SF
Effectively your choice imo. I’d declare it as business use since if examined and compared with your invoices there will be a clear correlation between the two.
You have to declare it anyway so not a problem from what I see.
Thanks Graham. The account has always been declared, so I’ll make sure it now says that it’s a mixed business and personal account.
Thanks for such a speedy response - it’s good to have an experienced voice to ask!
I have written to the Impots and they pointed out that 8SH and 8SI are on the form 2042 and I fill that in, no mention of changing it to a 2042C although I do have an SI cover.
What I am frustratingly stuck on now is the interest on the 2047 form. It won’t let me move on as it keeps stating to enter the country of of the revenue. I have entered non to the question more than 3 countries to declare revenue on and against 260 2TR I have entered Rpyaume-Uni and the amount. What am I missing? I even tried entering Royaume-Uni against the box 231 Interest but that didn’t work either.
It’s bad enough trying to do the form with extremely sore eyes without constantly going back and forth trying to get to the end of the form.
Thanks for any help.
Hi Elizabeth
Could it be to do with the bug I mention further up at post 116?
If you see 2041-E in the left pane youo need to go back to the start and reselect the Annexes to remove it by unchecking it. The presence of this will prevent you from completing the return until information is provided in the 2041-E form which I doubt applies in your case (but isn’t obvious as the cause).
8SH (and 8SI) are checked on Form 2042.
If you are still having problems with completion of the form, there is an online help available - you may see a pair of headphones with microphone icon appear in the right hand side of the screen or you can use the secure messagarie selection on the main access page to ask the question which troubles you.
@Elizabeth_Cox somewhere on the site (perhaps @JaneJones may remember) there was a post about getting online help from local resources which you might wish to consider.
Thanks Graham, that does make sense about the ticking of boxes 8SH and 8SI. I will run through the steps you have outlined and if no joy, write to the Impots via the messaging service as that seems to work wuite well when I’ve used it in the past.
Back to the declaring of foreign accounts - making a start I’ve realised the difficulty to get numbers for some of the regular savers / fixed term which closed on maturity during last year.
Then I thought - as we arrived in December, don’t we only need to declare the ones open etc from the time of arrival - not for the whole of 2020 - because only the ones from December onwards will be taxable?
Did anyone else do just that when they arrived? Obviously I’ll ask the tax guy this as well!
I would tend to agree with that, always provided the accounts were not/have not been used since your arrival of course.
We had a number of business accounts in the UK which were all closed before we moved to France - we didn’t declare them either as saw no need to do so and they would be of no interest to the fisc.
Yep, I just got off the phone with the tax guy - a mix of english and french - hard work!
After confirming they would be nil balance and closed he said declare the open ones from the start of December. (Of course, I think that’s what we agreed…!)
I spoke with the tax officer yesterday - English / French mix so not certain what is said, however he said a deduction should be quite possible, if they’re at UK university, something about needing ID and a proof of their fiscal income (it got little knotted tounges here for us). He said it’s another form and he’d send one, but quite rightly as I’m asking for next year said it’s not a big priority. But looking on the paper 2042 I can see there’s a form mentioned for tax credits 2042 RICI. Not much help I know but seems possible, maybe now the dog’s been walked?
I’ve another query, for savings interest some people must make use of the option “l’imposition au bareme de vos revenues de capitaux mobiliers et gains de cession de valeurs mobiliers” - box 2OP ?
Given this year I’ll be nowhere near a 30% tax bracket I’m assuming it’s beneficial to do this.
I wonder how it works in practice - and with the S1 exemption - is a social solidarity charge applied instead, I seem to remember reading about that - 7.5%? I presume if you’re out of the 11% bracket and into the 30% bracket the flat rate 12.5% + 17.5% social charge is better. Or is it that with the S1 the interest tax always 12.5 +7.5% ?
