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tax refund

Posted by KJ164-292731 - Created: 7 years ago
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3 replies (Showing replies: 1 to 3)

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Posted by laughingboy-409220 - 7 years ago

At the risk of stating the obvious - the safest strategy for impots sur revenu is to put the tax to one side as you earn. That way, it is there ready and waiting when the taxman asks for it. It still works out better than PAYE because the tax money is in your bank rather than theirs until the end of the year, where it might earn a bit of interest and provide a temporary emergency cushion. Especially if your income is going to drop, it doesn't make sense to rely on next year's income to pay this year's tax.

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Posted by eurokiné-187861 - 7 years ago

Im not sure if there is a way of paying your taxes in one lump sum after the arrival of the avis d imposition, you need to check the website (impots.gouv or something like that) as you may find that less complicated for the year after the retirement but you d need to have done your calculations correctly to be sure of having a possible large sum to pay all in one go

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Posted by eurokiné-187861 - 7 years ago

I presume from what you say that you pay your taxes monthly.

The sum you have paid in 2012 is in fact for 2011, with the sum concerned being calculated on what you had to pay for 2010, up until the date you receive your avis d imposition when they will recalculate the last months payments to make up whatever difference there was in your actual revenue for 2011 compared to 2010

Therefore, during 2013 you will pay for 2012 a monthly sum based on your income for 2011. When you have filled in your tax declaration form for 2012(march/april ish) they will calculate the true revenu and around september/october 2013 will send your avis d imposition for fiscal year 2012. If you earned less in 2012 than they anticipated you will get a refund.

If you retire during the year 2013 you wont get a refund for thatyear until sept/oct 2014 but  if  you opt out of the monthly system at the end of the year(2013) and opt to pay the bill 3 times a year during 2014 if your calculations work ok you should have paid all you owe, if not more by the second payment (august ish) and will then have no more to pay before the following january 2015 which will be calculated on your new pensioned revenue

yes it's confusing but if you ve overpaid they are much more rapid about paying you back than they used to be, it's just because what you pay during one year is for the year before but monthly payments based on the year before that!!