12/01/2011
ADVERT
JOB - Maître d'hôte restaurant gastronomique Luberon Ouest
For a high class gatronomic restaurant, there are seeking a 'Maitre D' to runthe restaurant for the owner who is the chef, having a registration in the Michelin guide and looking to obtain their first star.
The owner is also establishing a bistro not far and the management responsibilities would include looking after this as well.
Seasonal position - march to november annually.
Contact us for further details.
11/01/2011
2011 - All change for taxation !
There are a number of tax changes for 2011 which will make a diiference that will be felt by many.
These changes include an increase in the liability to taxation, but also remove certain allowances and reduce rebates and abatments, and there is even an additional 1% liability on investment income. Life Assurance contracts have also been targeted by the social charges, removing part of their fiscal advantage.
Whilst details of the tax changes are on our tax pages, there are means of maintaining the advantages of the assurance vie contracts, so please contact us for all further details.
03/01/2011
Social charges on the Fonds en Euro annually
In their attempt to recuperate social charges sooner rather than later, the French government have resurrected the different between the mono and multi-support Life Assurance contracts, as a result of which, from 1st january 2011, they will be levying social charges on the profit element of the 'fonds en euro' fund each year.
This provision only applies to the 'fonds en euro'as it is the only fund which is known to increase each year, the social charges liability on all other funds within the Life Assurance contract will continue to be levied either on the occasion of a withdrawal on the profit element included in that withdrawal, or on the profit element included on the amount left to beneficiaries.
01/06/2011
Life assurance contracts can no longer be used to mitigate wealth tax
In May 2010 the French fiscal authorities announced that Life Assurance contracts that are locked and inaccessible for at least 8 years could no longer be excluded from the value of netwealth for the french ISF (wealth tax).
The fiscal authorities had, in 2009, removed the exclusion of "bonus contracts", where the growth elements of investments in Life Assurance contracts could be excluded from the calculation for the wealth tax.
Whilst there still exists the possibility to mitigate the liability to wealth tax, and some of these options can still include the use of Life Assurance contracts, it does mean that we can be more creative !
Contact us for further details and other methods of mitigating wealth tax.
18/03/2010
Social charges are now applied to beneficiaries of life assurance contracts
The french fiscal authorities have, for sometime, been concerned about the fact that funds invested through a Life Assurance contract - and more especially the profit element of this investment - which remained in the contract at the time of death were escaping liability from the social charges.
So, from the 1st january 2010 beneficiaries of life assurance contracts will be assessable to the french social charges on the element of profit included in the amount they have inherited.
This liability is in addition to the tax liability and, more importantly, is irrespective of whether or not income tax has been paid by the beneficiary due to the sum inherited being over the relevant tax free threshold.
