Moving to France? These Tax Hacks Could Save You Thousands

Brits leaving the UK can save up to 69% in taxes by following these four tax-saving steps.

Money must-do. UK residents planning a new life in France can create mega tax cuts by applying a focused financial strategy before the move. 

1. Pension win. Withdraw your 25% tax-free Pension Commencement Lump Sum (PCLS) from your UK pension before leaving. In France, this sum is taxed at your marginal rate plus 9.1% social charges, potentially saving you around 39.1% in tax.
2. ISA liquidation. ISAs lose their tax-free status in France and are taxed as General Investment Accounts (GIAs) at 30%. Cash in before leaving to avoid this tax hit.
3. AV advantage. Once in France, place liquidated funds into a Luxembourg assurance vie. This tax-efficient investment wrapper allows gains to grow tax-free and offers flexible withdrawals with inheritance planning advantages.
4. S1 savvy. The S1 form grants access to UK state healthcare in France and can cut social charges on certain investment income from 9.1% to 17.2%. Contact the NHS Overseas Healthcare Services to find out if you’re eligible.

Future growth. With the right financial strategy, you can maximise your wealth and minimise tax burdens when moving to France.