There's no escaping it, the tax return campaign has started! As always, it starts in April, but when does it end for you and what are the changes? Here are the questions we'll be answering in this week's article!

What's the timetable this year?

The campaign kicked off last week with the opening of the online declaration service on 11 April. As always, the validation deadlines are staggered over three zones:

• For Zone 1, which includes départements 01 to 19 and French nationals living abroad, the deadline is 23 May 2024 at 23:59,
• For Zone 2, which includes departments 20 to 54, the date is 30 May 2024 at 11.59pm,
• And for Zone 3, which includes departments 55 to 974/976, the deadline is 11.59pm on 06 June 2024;

This year, a paper tax return will only be sent to taxpayers who completed it in this format in 2023, for the 2022 tax return, unless they request otherwise. In this case, the pre-filled return will be sent by post in April and the deadline for submitting paper returns is 11.59pm on 21 May 2024 (as evidenced by the postmark).

What's changing this year

As was the case in 2023, since inflation was significant last year, the tax authorities have revised a number of elements. The most important of these is the revaluation of the income tax scale by 4.8%. Here are the new brackets:

Source: service-public.fr

The government has indexed the family allowance ceiling, increasing it from €1,678 to €1,759 for each additional half-worth.

In addition to these two fairly standard annual updates, there are changes in other areas. These exceptional changes include

• Increase in the land deficit to €21,400 subject to conditions,
• Extension of the tax reduction rate from 66% for donations to other organisations, which can rise to 75% in certain cases,
• Changes to the allowance rates for BIC income from furnished lettings (see article dated 26 January 2024 on the 2024 Finance Law),
• Taxation at the PFU rate of 12.8% for all capital gains on the sale of digital assets (subject to conditions), with an option to apply the progressive income tax scale.

Because the French tax system is so complex, it can be hard to get to grips with this tax return on your own. There are professionals who can help you or ease your burden. Wealth A7's wealth management advisers are on hand to help you, even if you need to benefit from the impatriate regime; contact us!

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