TIPS FOR TAX RETURN IN SPRING 2014 ABOUT INCOME OF FISCAL YEAR 2013

Don’t forget to redeem a part of your RAeS annual fees paid in December 2013 !

According to France Tax Code, Section 200, 4 bis

First of all, don’t make mistake about the amount : on RAeS invoice it’s written in £ GBP. Therefore you have to take again your credit card statement received at the end of Nov-Dec. 2013 to get the amount in Euro currency. Example :

If bank or credit card fees apply, then the amount allowed is the « net money transfer » really received by RAeS on its accounts in London (cf.

Official Bulletin BOFiP#BOI-IR-RICI 250-20-20120912 § 30

) Here, in our example, Amex fees were 3,43 €

thus we’ll only retain :

(140,76 € - 3,43 €) =

137,33 €

In your Tax return, you have to write only the gross amount – i.e. the amount paid to RAeS !

Warning !

You can’t use the usual « 7UF » box on the main form because this box is only for gift made to entities headquartered in France.

You have to get an additionnal form named « Cerfa # 2042 C » and fill the « 7VC » box. But don’t worry, you’ll get the same deduction than charities having H.Q. in France !

You have to indicate the name and address of the beneficiary : • whether online tax return : in a pop up • whether by paper tax return : on page 2, in the « E » box of the main form « Cerfa 2042 » 137 €

The French tax services will calculate your « Réduction d’impôt » equivalent to 66 % paid to RAeS and directly deducted from the Income Tax you have to pay to Tresor Public.

In this example, given the £ to € rate, it will be :

(137 € x 66%) = - 90 €

To have to pay in less @ France Gov.

Real cost of RAeS in 2014 : less than 51 € !

Don’t throw away some useful papers !

In case of control by Tax services, you’ll have to produce evidence of the payment sent to RAeS : • of course RAeS 2014 fees invoice, but however it will not be enough !

• ultimately, bank or credit card statement showing RAeS charge.