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Got a Question about life in France?
The Good Life France is delighted to introduce a new series where we help readers who have questions about living in France – tax, property, currency, legal, healthcare… if you have a question email: [email protected] and we’ll see if we can it answered for you.
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TAX question: I'm not sure if I am resident in France or in my country of birth as I spend time in both?
Answer: For anyone who has interests in various countries, your place of residence can be a cause of confusion.
This is because, in many cases, you may find that you fulfil the internal residence criteria for more than one of those countries. The fact is though, you can only be considered resident in one country, and that country defines the tax rules and laws you’re subject to.
In France you only have to fulfil one of four conditions to qualify as “resident”, one of which is owning a home, though in theory you may spend less time in France than elsewhere. You may also have a home in the UK and spend more than 91 days per year in the UK and therefore you are technically “resident” in the UK.
The financial advisers trading under Beacon Global Wealth are members of Nexus Global (IFA Network). Nexus Global is a division of Blacktower Financial Management (International) Limited (BFMI). All approved individual members of Nexus Global are Appointed Representatives of BFMI. BFMI is licensed and regulated by the Gibraltar Financial Services Commission (FSC) and bound by the rules under license number FSC00805B.
So – how do you know? The answer is to decide which country has the greatest claim, and in the answer lies in the appropriate “Double Tax Treaty”, bilateral agreements between various countries (excluding tax havens). These set out the rules for:
1. Which countries has the great claim to your residence
2. Which country has the right to tax sources of income, assets and in some cases, inheritance
3. How to ensure you are not taxed twice on the same amount
You can find details of the agreements on the French tax authority website: www.impots.gouv.fr (see documentation/international).
In the case of the UK/France there are two Double Tax Treaties – one covers income tax, the other inheritance tax. This (with some exceptions), allows the country with the greatest claim on your residence to tax your worldwide assets and income.