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The French Property Network

Feb 26

Will Coronavirus damage the Pound?

As the Coronavirus spreads, currency markets could be facing increased volatility over the coming days and weeks.

The virus is now breaking out across Europe, with Italy reporting over 300 cases.

Currency markets will be sensitive to any developments.

At first, Asian markets were hit the hardest.

But as UK investors wake up to the growing threat, it could begin to damage the Pound.

In times of trouble, investors tend to dump Pound Sterling in favour of “safe havens”, such as the US Dollar and Swiss Franc.

If you have an upcoming currency requirement, it’s something you need to be aware of.

What should You do?

We are watching rates carefully and can assist you with the timing of your transfer.

Please get in touch on 01872 487 500 to speak to one of our dealers.

To find out the latest rates, click for a quote below.

Cle France and Key Currency

Thanks For Reading, What Next?

Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Wednesday 26th February 2020 at 10:30

£1.00 GBP = 1.1897 EURO

£1.00 GBP = 1.2944 USD

£1.00 GBP = 1.9685 AUD

£1.00 GBP = 2.0524 NZD

£1.00 GBP = 1.7213 CAD

£1.00 GBP = 19.8040 ZAR

Cle France Currency Guide link

Need to Send Money Abroad?

  • At Clé France / Key Currency, many of our customers have a need for currency exchange.
  • We are pleased to offer our customers favourable exchange rates on international currency transfers.
  • As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

How to Save Money on your foreign currency transfers

Add CommentViews: 1960
Feb 19

Pound holds at 3.5 Year Highs

It’s been a busy time in February.

With the Pound at 3.5 year highs against the Euro, people are actively taking advantage of the rate.

There’s been a lull in Brexit news, which has given the Pound a breather from the turbulence.

At the moment, the UK and the EU are in a war of words. Neither side wants to show any weakness ahead of trade negotiations.

European ministers are set to meet in Brussels next week to decide on their position.

While none of us has a crystal ball, I expect there will be more twists and turns to come.

If you value certainty above speculation, you may wish to lock-in an exchange rate so you can budget effectively and protect your money from currency risk.

Find out our latest exchange rates below.

Cle France and Key Currency

Thanks For Reading, What Next?

Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Thursday 19th February 2020 at 11:00

£1.00 GBP = 1.2002 EURO

£1.00 GBP = 1.2962 USD

£1.00 GBP = 1.9266 AUD

£1.00 GBP = 2.0261 NZD

£1.00 GBP = 1.7158 CAD

£1.00 GBP = 19.3784 ZAR

Cle France Currency Guide link

Need to Send Money Abroad?

  • At Clé France / Key Currency, many of our customers have a need for currency exchange.
  • We are pleased to offer our customers favourable exchange rates on international currency transfers.
  • As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

How to Save Money on your foreign currency transfers

Add CommentViews: 1894
Feb 13

Pound and Euro in muddy waters

The Pound has swinging up and down around 2% against both the Euro and US dollar in recent days.

It is creating opportunities for those with currency requirements.

The lack of overall direction is because nothing much has happened with Brexit, and the latest economic data has been as clear as mud.

After rumours the Bank of England might actually tweak interest rates, they have retreated back into their cave of computers.

But the bigger issue right now is the future trading relationship with the EU.

It’s completely up in the air.

We’re in the “political posturing” phase where the insults and innuendo are the norm.

All I can suggest is that to protect your money against the uncertainty ahead, you can secure an exchange rate for up to 12 months in advance of your requirements.

Call us on 01872 487 500 to speak to one of our friendly traders.

To find out our latest rates, please click on the link below.

Cle France and Key Currency

Thanks For Reading, What Next?

Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Thursday 13th February 2020 at 09:30

£1.00 GBP = 1.1918 EURO

£1.00 GBP = 1.2973 USD

£1.00 GBP = 1.9279 AUD

£1.00 GBP = 2.0095 NZD

£1.00 GBP = 1.7198 CAD

£1.00 GBP = 19.3067 ZAR

Cle France Currency Guide link

Need to Send Money Abroad?

  • At Clé France / Key Currency, many of our customers have a need for currency exchange.
  • We are pleased to offer our customers favourable exchange rates on international currency transfers.
  • As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

How to Save Money on your foreign currency transfers

Add CommentViews: 2196
Feb 11

Claim a refund of your French social charges!

The door has reopened for new French social charges claims. If you have sold your French property in 2017 or 2018 it is time to act!

Let me give you a brief summary of the French social charges saga.

Summary

In 2015, France was condemned by the European Court of Justice (ECJ) in the case law De Ruyter which held that taxation of social charges on French capital income of persons affiliated to a social security system of another Member State of the European Union (EU) or European Economic Area (EEA) or Switzerland was contrary to the EU legal principle of unity of social security legislation.

This judgement was then followed the same year by a decision of the highest French administrative Court The “Conseil d’Etat” which confirmed the ruling of the ECJ. The “De Ruyter” case led to a large number of tax claims against the French Tax Office until the budget 2016 when the French government decided to maintain the taxation of social charges on non-residents despite its controversy by reallocating the proceeds of the social charges into a new category.

However, the French government interpretation that the social levies were a tax rather than a social security contribution was rejected in 2018 by the the Court of Appeal of Nancy which ruled out that the taxation was against EU law. The French government appealed against that decision. However taking into account the ruling of a recent judgement of the ECJ of 14th March 2019, the Highest Administrative Court (« Conseil d’Etat ») upheld the decision of the Court of Appeal.

Time to act !

Therefore, if you were residing in a EU/EEA country other than France or in Switzerland and were registered with the health care system of your home country and paid social charges on the net capital gains when you sold your French property in 2017 or 2018, you can now make a claim. Under French law, any tax claim must be issued before the 31st December of the second year following the year when the tax was paid. If you sold your French property in 2017, you have until the end of 2019 to make a claim. If you sold your French property in 2018, you have until the end of 2020 to make a claim. For those who sold their French property in 2016, it is too late unless you issued a claim before the end of year 2018.

For those who are considering selling their French property in 2019, the good news is that the French government took the lead by deciding in its new tax budget that from the 1st January 2019, non-French residents affiliated to a social security of a EU/EEA social security will no longer have to pay social charges but still be subject to the tax of prélèvement de solidarité (7.5%). For those residing outside the EU/EEA, they will be subject to social charges of 17.2%.

How to claim the social charges?

A tax claim can be issued to the French Tax Office for non-residents or to the tax office where the taxpayer was registered. It must be legally motivated and include all supporting documents establishing the right to claim for a refund of the French social charges.

Loic Raboteau

We have received many enquiries from concerned clients who have seen their tax claim rejected because of poor drafting or lack of evidence.

We therefore recommend that you seek legal advice to ensure that your claim has been correctly drafted and accompanied with the necessary supporting documents.

Our Firm can assist you in claiming back the social charges you have paid. We are very experienced in this area and have successfully claim back social charges for our clients since 2014.

At B&M Law LLP, we will be happy to assist you in recovering the social charges undue levied on the French property you sold.

Please contact Loic Raboteau by visiting his page on this website for a free preliminary assessment of your case and a quotation.

Disclaimer: These articles are for information purposes only and are not intended as legal advice. Professional advice should always be obtained before applying any information to particular circumstances.

For a more personal advice contact Loic today using the form above.

You may also be interested in some of our 'Buying Guides' on the Free Guides Tab Here.

For everything you need to know about French property for sale visit www.clefrance.co.uk

Add CommentViews: 2182
Feb 11

Update on France’s online residency portal

BRITISH EMBASSY PARIS

MONDAY, 3 FEBRUARY 2020

Good afternoon, Following my message last week, I wanted to let you know that the French Interior Ministry has updated its website on how UK citizens can secure their residency rights in France. The online portal originally built to receive residency applications in the event of no deal has now closed. An updated version will be re-launched at the start of July 2020. From this date, all UK nationals currently resident in France (or who become resident before 1 January 2021) will need to apply via this online portal for a new residence permit. This will formalise your rights under the Withdrawal Agreement between the UK and the EU.

If you applied on the previous portal, you will not need to re-apply – your application will be processed by the appropriate Préfecture before the deadline.

So the key message today is that you should wait for the updated French online portal to go live at the beginning of July 2020 – and if you haven’t yet applied, there will be time to make an application later this year and in early 2021.

We will continue to post updates here and on our other social media channels as soon as we get any further information.

With my very best wishes,

Ed Llewellyn.

NOTE: Article taken word for word from 'British Embassy in Paris' communications.

Add CommentViews: 2706

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