When you are moving to France – or just buying property there – you will need to think about how this will affect your worldwide estate, such as the tax you pay and any pensions you receive; after all, you want to make sure that you continue to receive the maximum amount of income possible.
There are so many areas that you will need to consider with this, throughout your purchase process and beyond – after all, it’s vitally important to ensure you are covered tax wise when you live in another country; the last thing you want to do is pay tax in both the UK and France. There is a double tax agreement between the two countries, which means that you shouldn’t have to pay tax on the same money in both – but it’s important to ensure that you have this in hand.
The best thing that you can do in this situation is speak to an expert – taxes can be a complicated and it’s very important to ensure everything that you are completing is of the highest quality and, above all, correct!
Ideally, you would have ample time before you actually move to ensure that you can carefully organise everything that affects your tax situation carefully. In addition to consulting an advisor about the main areas of income tax and pensions, it’s also a good idea to make the best of your financial situation. We would recommend paying off debts, if you can, such as overdrafts, credit cards and person loans.