Wednesday, June 13, 2012

French farce as British expats face a shock £8,000 fine if they do not declare their inheritance trusts to the Paris tax office

Thousands of Britons living in France face a shock €10,000 (£8,000) fine in a draconian tax clampdown across the Channel, Money Mail can reveal.

The French Government is using a stealth ploy to squeeze extra cash from foreigners to help pay off its whopping €1.7 trillion national debt.

In a matter of days, all of the 200,000 British expats must for the first time inform the Paris tax office of any inheritance trusts they are named in or they have set up for relatives in the UK.

This includes even basic life insurance policies put into trust to avoid being included for IHT.

Forget, refuse, or fail to alert the authorities by this Friday, and they will be in line for a €10,000 fine. Read More