It turns out that every year, you have a tax levy. The latter occurs because of your passbooks. Indeed, it seems that this levy is actually a tax deposit interest on your bank investments. And if the latter bores you, it seems possible not to suffer it. Thus, you can no longer have it by writing just a mail at your bank. You should know, however, that the latter must be done before the end of November. And in this way, you will not have this direct debit for the following year. We’ll explaine everything here.
Simplified savings accounts
Very often, the papers remain difficult to manage. In this way, taxes and taxation are not themes that many French people carry in their hearts. But yet, with regard to the savings books, they seem that they have seemed very simplified. Indeed, taxation has seemed to become easier since a reform of the single flat-rate levy (PFU). The latter is also called flat tax and has been in place for four years now.
Thus, except for special savings books, or specific plans, the reform simplifies many things. Indeed, apart from therefore for envelopes exempt or partially tax-exempt from the PEA or even life insurance, booklet A, LDDS, etc. Thus, taxation appears to be a tariff. It remains the same for all gains that come from financial capital. So she remaining 12.8% income tax. But this also increases to 17.2% in social security contributions. So in all, this leads to 30% total.
Thus, the flat tax of savings books is spreading to many topics. Among them, term accounts with stock market income, without forgetting the bank books described as classic. This also applies to home savings such as PELs or even CELs. These seem to have been open since January four years ago. And indeed they too remain subject to tax from the year of ownership.
La Flat tax
Thus, for savings accounts, the flat tax is not levied all at once. It turns out that it actually takes place in two stages and not in one. Just like the withholding tax on wages and other earned income. First, there is a first collection from the source at the very moment of the payment of interest and dividends. This is what seems to be called tax installment. In a second timethere is a regularization that comes to the continuation of the annual declaration of income. Assuming that the latter has already appeared taken.
However, it seems possible not to have to pay this tax deposit for the savings books. It is enough for that that your home is little, even not taxed. So you may not have to pay this deposit which remains at 12.8%. However, it already seems too late for this year. Thus, these will be collected at the end of December.
On the other hand, it is not too late not to have to pay the deposit for savings books for next year, but time is counted. So, if you send in an application for an exemption this fall, then for next year, you might be exempted. Thus, for that the request is accepted and validit must be sent to your bank before November 30 of this year.
The deposit waiver
On the other hand, even if you do it before November 30 of this year, you will be exempted for the tax installment of the savings books for the next year. But that does not mean that it will be the same in the years that follow. Indeed, it is necessary to renew this request for exemption each year and at the same period. It must also be taken into account that this must remain done before November 30, Thus. It is better to take a few days in advance if ever there were submissions with the post office.
Thus, this request remains subject to certain conditions. In order not to have to pay this tax deposit for savings books, you must meet certain conditions. So it’s called “request for exemption from tax levy 2023”, “request for exemption from direct debit” or “request for exemption from the non-discharging flat-rate levy”. And she seems to stay in shape a sworn statement.
Thus, for interest on savings accounts, PELs or any other fixed-income investments, you must declare your reference tax income. You can find the latter on your tax notice for this year. The conditions remain as they must not exceed 25,000 euros for a single person and 50,000 for a couple.
On the other hand, with regard to dividends from the same savings accounts or other fixed investments, the reference tax income must not exceed 50,000 euros for a single person and 75,000 for a couple.
The deposit waiver letter for savings accounts
So, although many banks offer a pre-filled template of this type of letter, here is an example. By sending this, you might no longer have a tax deposit for the savings books.
“I, the undersigned, (…),
moreover (…),
asks to be exempted from the levy provided for in I of article 125 A of the CGI and certifies on my honor that the reference tax income of my tax household appearing on my tax notice established in respect of income from before last year preceding the payment of fixed-income investment products and similar gains mentioned in I of the aforementioned article is less than:
– €25,000 (for single, divorced or widowed taxpayers);
– €50,000 (for taxpayers subject to joint taxation).
At (…), on (…),
(Date et signature)”.
Important information
You still have to keep in mind that what you will not give not as deposit will be taken later. It is indeed only a tax installment for the interests of your savings books. So you won’t just advance not the sum. But ultimately, the final amount always remains the same.
As for next year’s interest, it will still have to be declared for your savings accounts in spring 2023. Afterwards, it will be up to you to choose between flat tax or progressive scale. In all cases, you will regularize the tax defined on the next year’s income in summer 2024.