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Aude and Ariege Flyer

 hed30818

Bonjour

 

It was good to see so many of you at the recent vide grenier in Routier, thank you to everyone who came and said hello.

Mr Hulot is having a holiday, the French Environment Minister has quit the Government due to lack of progress on climate and other environmental goals.

Having only been in the job 15 months that appears a little strange.

Boris is very quiet, that’s always a worry.

 

Trump complaining Google searches largely show bad news about him, we seem therefore to be safe with their algorithms.

 

You are in luck, i don't have a lot to say today.

 

Steve

 

 

 

 

ddt1

dddt2

 

 

Thousands of regular readers make the Flyer the place to be seen

 

 

Lost in France

 

The views expressed here are those of the writer and not of Steve.

 

cututaWho would have thought that I would be missing Cultura?  When I first settled in France I missed the convenience of Cass Art in Islington.  The abundance of well-priced canvases, the choice of paints, brushes, art pens and then the rush of ideas all these products prompted. 

So arriving in France, after the initial foray into canvases and paints supplied by M. Bricolage, I discovered Cultura.   What a joy!  Not quite as comprehensive as Cass Art but a very close second.  And it took the same time to get to the big roundabout in Carcassonne from my house as it did to get to the shop in Islington.  No that’s not true.  The distance may have been longer but the time taken much shorter as I didn’t have to contend with the vagaries of traffic and the endless re-direction of the No.38 bus.

Really, I’ve been spoilt.  But now…oh no!  There is not one decent (in comparison to Cultura) artist supplies shop in my city!  What a gem Cultura was, art supplies, music, books, crafts and the ability to book tickets for shows.  Someone tried to tell me last night that the reason there were no decent supply shops was that weren’t as many artists here.  That’s wrong and ridiculous.  In every street all over the city and every city, town and village for that matter, there will be people painting -  in their studios, garden huts, bedrooms, kitchens and tiny studio apartments. 

I know, I know, I can buy all these products online, but one of the joys of buying artists’ materials is the excitement of discovering a new unlooked for product.  It’s a bit the same as going into a book-shop.  Amazon can never replace the feel of a new book in your hands or just the seemingly necessary search for something that sprang to mind that morning, or a review you read in the newspaper…..it’s a lost way of life.

 

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Inheritance Planning and French Residency

For this month’s article I thought I would re-visit the subject of inheritance planning – an integral part of any financial planning review.

Despite the importance of making sure one’s affairs are in order for the inevitability of our demise, very few people actively seek advice in this area and, as a result, are unaware of the potential difficulties ahead for their families and heirs, not to mention potential tax bills which can be quite substantial for certain classes of beneficiary.

The basic rule is, if you are resident in France, you are considered also to be domiciled in France for inheritance purposes and your worldwide estate becomes taxable in France, where the tax rates depend upon the relationship to your beneficiaries. 

Fortunately, there is no inheritance tax between spouses and the allowance between a parent and a child is reasonably generous, currently €100,000 per child, per parent. For anything left to other beneficiaries, the allowances are considerably less. In particular, for step-children and other non-related beneficiaries, the allowance is only €1,594 and the tax rate on anything above that is an eye-watering 60%!

There are strict rules on succession and children are considered to be ‘protected heirs’ and so are entitled to inherit a proportion of each of their parents’ estates. For example, if you have one child, the proportion is half; two children, one-third each; and if you have three or more children, then three-quarters of your estate must be divided equally between them.

You are free to pass on the rest of your estate (the disposable part) to whoever you wish through a French will and, in the absence of making a will, if you have a surviving spouse, he/she would be entitled to 25% of your estate.

You may also be considered domiciled in your ‘home country’ and if so, this could cause some confusion, since your home country may also have the right to charge succession taxes on your death. However, France has a number of Double Taxation Treaties (DTT) with other countries covering inheritance. In such a case, the DTT will set out the rules that apply (basically, ‘which’ country has the right to tax ‘what’ assets).

For example, the 1963 DTT between France and the UK, specifies that the deceased’s total estate will be devolved and taxed in accordance with the person’s place of residence at the time of death, with the exception of any property assets that are sited in the other country.

Therefore, for a UK national who is resident in France, who has retained a property in the UK (and does not own any other property outside of France), the situation would be that:

  • any French property, plus his/her total financial assets, would be taxed in accordance with French law; and

  • the UK property would be taxed in accordance with UK law, although in theory, the French notaire can take this asset into account when considering the fair distribution of all other assets to any ‘protected heirs’ (i.e. children).

 If a DTT covering inheritance does not exist between France and the other country, with which the French resident person has an interest, this could result in double taxation, if the ‘home’ country also has the right to tax the person’s estate.

Hence, when people become French resident, there are usually two issues:

  • how to protect the survivor; and
  • how to mitigate the potential French inheritance taxes for other beneficiaries.

European Succession Regulation No. 650/2012

Many of you will no doubt have heard about the EU Succession Regulations that came into effect in 2015 whereby the default situation is that it is the law of your place of habitual residence that applies to your estates. However, you can elect for the inheritance law of your country of nationality to apply to your estate by specifying this in a French will. This is effectively one way of getting around the issue of ‘protected heirs’ for some expats living in France.

However, the UK opted out of the Regulations and therefore, it is not yet certain how effective the EU Regulations will be until there have been some test cases. I would always recommend that you discuss this in more detail with a notaire who can advise you on the subject of French wills.

If, after taking the advice of a notaire, it transpires that this is the best course of action for you to achieve your inheritance objectives, it is important to note that the French inheritance tax rules will still apply. Therefore, even though you have the freedom to decide who inherits your estate, this will not reduce the potential inheritance tax liability on your chosen beneficiaries, which, as mentioned above, could potentially be very high for a step-child. Hence, there will still be a need to shelter financial assets from French inheritance taxes.

Inheritance planning for French residency can be very complex, especially where there are children from previous relationships. This is often the starting point of my discussions with a prospective client. Most couples with children that I come across want their spouse or partner to inherit everything upon first death and for the children to inherit on second death. This isn’t possible under standard French Succession law, but it can be achieved by putting in place strategic planning, which is something on which we can provide advice. 

If you would welcome a confidential discussion about your own inheritance planning, the mitigation of inheritance taxes for your chosen beneficiaries or a general chat about your overall financial situation, please feel free to contact me by e-mail at sue.regan@spectrum-ifa.com or by telephone on 04 67 24 90 95.

In addition, you can meet me and other members of the Spectrum team at the Tour de Finance, which is once again coming to the stunning Domaine Gayda in Brugairolles 11300. This year’s event will take place on Friday 5th October 2018. Places are by reservation only and it is always well attended so book your place early by giving me a call or dropping me an email. Our speakers will be presenting updates and outlooks on a broad range of subjects, including:

Brexit

Financial Markets

Assurance Vie

Pensions/QROPS

French Tax Issues

Currency Exchange

So, if you are concerned about your investments and pensions in a post-Brexit world why not join us at this very popular event where you can meet the team in person and listen to a number of industry experts in the world of financial advice.

The Spectrum IFA Group advisers do not charge any fees directly to clients for their time or for advice given, as can be seen from our Client Charter at

http://www.spectrum-ifa.com/spectrum-ifa-client-charter/

The above outline is provided for information purposes only and does not constitute advice or a recommendation from The Spectrum IFA Group to take any particular action to mitigate the effects of French taxes.

spectnewfoot

meteo ciel3


 csf sept coffee

Email: sud-helpline@cancersupportfrance.org  Website: www.cancersupportfrance.org

Forum: http://forum.cancersupportfrance.org     Local Association No : W11200059

 

 

 

 

Tech Talk

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Some vide greniers and foires!vide

Please check before setting off http://vide-greniers.org

They also have a sister site where you can giveaway stuff or find stuff others are giving http://donnons.org

Its all recycling - you know it makes sense!

If there are two in the same town on the same day, it could be a duplicate on the site or a second event

Black = Aude - Brown = Ariege

vide

Samedi 1 Septembre

Coursan  Vide grenier

Fanjeaux  Brocante de Fanjeaux

Leucate  Tante Marie vide ses greniers

Lezat-sur-Leze  Vide grenier

Dimanche 2 Septembre

Alzonne  Vide grenier

Canet  Vide grenier du cochonnet canetois

Carcassonne  Vide grenier

Carcassonne  Vide grenier de la trivalle

Conques-sur-Orbiel  Vide grenier

Coursan  Vide grenier de CIT

Coursan  Vide grenier

Cruscades  Vide grenier

Fleury  Vide grenier des chats errants

Gruissan  Vide grenier

La Palme  Vide grenier

Leucate  Vide grenier

Limoux  Brocante mensuelle

Marseillette  Grand vide grenier

Montazels  Vide grenier

Narbonne  Vide grenier Cultura

Narbonne  Vide grenier Cap de Pla

Peyriac-de-Mer  Vide grenier

Portel-des-Corbières  Vide grenier

Sainte-Nazaire-d’Aude  Vide grenier annuel

Thézan-des-Corbières  Vide grenier

Laroque-d’Olmes  Vide grenier des Sapeurs Pompiers

Pamiers  Vide grenier

Saint-Lizier  Vide grenier

Samedi 8 Septembre

Coursan  Vide grenier

Fanjeaux  Brocante de Fanjeaux

Montgaillard  Vide grenier semi-nocturne

Tarascon-sur-Ariège  Vide grenier d’automne

Dimanche 9 Septembre

Alzonne  Vide grenier

Bram  Vide grenier

Carcassonne  Vide grenier

Castelnaudary  Vide grenier et brocante

Coursan  Vide grenier

Fleury  Vide grenier

Lagrasse  Brocante vide grenier

Montmaur  Vide grenier

Narbonne  Vide grenier

Saint-Polycarpe  Brocante et vide grenier à l’aqueduc

Saint-Polycarpe  Vide grenier mensuel

Trèbes  Vide grenier

Verdun-en-Lauragais  Vide grenier

 

Villedaigne  Vide grenier

Villegailhenc  Vide grenier

Arignac  Vide grenier

Arnave  Vide grenier d’automne

Campagne-sur-Arize  Vide grenier

Foix  Vide grenier d’automne

Pamiers  Vide grenier

Verniolle  Vide grenier

Samedi 15 Septembre

Carcassonne  Vide grenier d’Ozanam

Coursan  Vide grenier

Fanjeaux  Brocante de Fanjeaux

Villeneuve-d’Olmes  Vide grenier 

 

Dimanche 16 Septembre

Arzens  Vide grenier

Azille  Vide grenier

Brugairolles  Vide grenier d’automne

Carcassonne  Vide grenier

Cassaignes  Vide grenier d’automne

Castelnaudary  Vide grenier les rois du vide

Cenne-Monestiés  Vide grenier

Coursan  Vide grenier

Donazac  Vide grenier

Fontiès-d’Aude  Vide grenier

Magrie  Vide grenier

Marseillette  Vide grenier

Mirepeisset  Vide grenier

Montréal  Vide grenier marché artisanal

Narbonne  Vide grenier

Narbonne  Vide grenier

Palaja  Grand vide grenier

Puichéric  Vide grenier

Dalou  Vide poussette et vide dressing

Daumazan-sur-Arize  Vide armoires

Pamiers  Vide grenier

Saint Girons  Les puces du champ de mars

Samedi 22 Septembre

Coursan  Vide grenier

Fanjeaux  Brocante de Fanjeaux

Dimanche 23 Septembre

Bellegarde-du-Razès  Fête en Razès

Carcassonne  Vide grenier

Cépie  Vide grenier

Coursan  Vide grenier

Espéraza  Vide grenier de la St Michel

Fleury  Vide grenier

Homps  Vide grenier

Limoux  Vide grenier des Vendanges

Mirepeisset  Vide grenier

Narbonne  Vide grenier

Rieux-Minervois  Vide grenier Los Cascamèls

Pamiers  Vide grenier

   
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CLick on this

 

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What's On 

 

 

 

THE CAT EMPIRE 21 Nov Toulouse Bikini

CIRQUE DE SOLEIL 20 TO 25 Nov Toulouse Zenith

DISNEY ON ICE 17 TO 20 Jan Toulouse Zenith

 

 

 

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Stage portrait et paysage printemps été 4

 
 

 

 

 

 

 

 

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