The Good Life France Magazine




The Good Life France Magazine brings you the best of France - inspirational and exclusive features, fabulous photos, mouth-watering recipes, tips, guides, ideas and much more...


Published by the award winning team at The Good Life France

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11 months ago

Spring 2022

Discover Paris in the spring, Caen in Normandy and its marvellous markets plus Yvoire, a picturesque village on the edge of Lake Geneva in Haute-Savoie. Explore Saint-Omer, a historic city in the far north that's full of secrets and treasures, and Evian, where Frankenstein's monster stayed! Head with us to Metz in Lorraine to find out about its incredible past, La Couvertoirade, one of the prettiest villages in France, and the UNESCO heritage of Avignon. Guides, gorgeous photos, what's new in France, the best tours and delicious recipes from the legendary Le Nôtre bakery in Paris - and more.

Beacon Global Wealth

Beacon Global Wealth Management Standing out, amongst the best UK and French financial advice Tax and investment advice Inheritance advice Reviewing https://beaconglobalwealth.com/ pension arrangements It’s simple... We care about you and your money Our vision is to build a long term strategy to take care of your financial requirements for your life in France. Please contact Our UK office 0044 33 3241 6966 enquiries@bgwealthmanagement.net https://beaconglobalwealth.com/ 102 | The Good Life France

What is a French Assurance Vie We talk to Paul Flintham, an International Financial Advisor at Beacon Global Wealth about the Assurance Vie… Well, literally translated it means Life Insurance, but actually it’s quite different from the life insurance policy you might be used to in say the UK. An Assurance Vie is essentially a life insurance wrapper that holds investments. It’s available to French tax residents, including foreign nationals living in France and as well as offering inheritance advantages, it’s one of the most versatile and efficient tax structures in France. Key points of an Assurance Vie (AV) Tax: Investments held within the wrapper are not subject to capital gains tax or income tax while the funds stay inside the policy and no withdrawals are made. You can withdraw capital tax-free, only the growth element of any withdrawal is subject to tax. You must declare the growth every year you on your annual tax form, but no tax is paid unless you make a withdrawal. Even then the tax is only paid on the ‘growth’ part and after 8 years, there is an income-tax-free allowance of €4,600 per person (Social Tax is still payable). An AV may also be held in joint names, meaning an allowance of €9,200 per couple (tax is paid by couples in France). Inheritance: Assets within an Assurance Vie may be dispersed as you wish on death, and there are tax advantages for beneficiaries. If you open the AV before you reach 70, beneficiaries of an AV have an (extra) allowance of up to €152,500 each before tax. Compared to €1594 which is the normal allowance for non-relatives (this also includes unmarried partners in France). If you open the A.V. after you’re 70, the allowance drops to €30,500 per person. Currency: International AV versions can hold different currencies, which is useful if the foreign exchange rate isn’t favourable, and you have assets in different currencies. If you are tax resident in France and hold PEPS or ISA’s, you will have to declare the accounts and amounts on your French tax return. If you opened an AV your tax would be deferred until you take a withdrawal. This is a simple view of how an Assurance Vie works but for many people this is an excellent investment vehicle for tax savings and for inheritance planning. If you’d like to find out more or have questions about how to maximise your investments, contact Beacon Global Wealth for an obligation free consultation at: enquiries@bgwealthmanagement.net beaconglobalwealth.com The information on this page is intended as an introduction only and is not designed to offer solutions or advice. Beacon Global Wealth Management can accept no responsibility whatsoever for losses incurred by acting on the information on this page. Beacon Global Wealth Management are members of Nexus Global (IFA Network). Nexus Global EU is a division of Blacktower Financial Management (Cyprus) Limited (BFMCL) and Blacktower Insurance Agents & Advisors Ltd (BIAAL). Beacon Global Wealth Management is an Appointed Representative of BFMCL which is licensed and regulated by the Cyprus Securities & Exchange Commission (CySEC) - Licence No. 386/20. Beacon Global Wealth Management is an Appointed Representative of BIAAL which is licensed and regulated by the Insurance Companies Control Service (ICCS) - Licence No. 5101 The Good Life France | 103