La Tour de Finance Friday 4th October – Maine et Loire, Saumur
By Amanda Johnson
This article is published on: 20th September 2013
Question: I would like to speak to a financial adviser about my finances but do not feel I have enough money to warrant talking to one?
There are many people who feel like this which is why I give people the opportunity to meet me in person for an informal chat over a coffee at the Open Door in Civray (last Tuesday in each month) or Thursday mornings at Café des Belles Fleurs in Fenioux.
I aim to give people the chance to ask questions relating to their financial position, changes in tax & inheritance laws or their own personal circumstances since their last review. These informal surgeries allow us to quickly see whether you would benefit from a free consultation in the comfort of your own home.
During September & October I will also be at the following events:
• The Deux Sevres Trade Fair on Saturday 21st September from 10.00 am until 17.00 where you can have a chat and enter a Free Prize draw to win a hamper.
• Le Tour de Finance event on October 4th in La Salle des Caleches at the Bouvet – Ladubay Wine House near Saumur.
Event format
- 10:30 Welcome coffee and pastry platter
- 11:00 Forum commences (various presenters will give 15 minute presentations). To keep the topics varied, only one company will represent a specialist area i.e. investments, pensions, currency transfer etc
- 12:30 A light luncheon buffet accompanied by local wine and soft beverages will be served allowing delegates to network with other delegates and the speakers
- Followed by an optional tour of the caves of Bouvet-Ladubay and a wine tasting!
If it has been some time since your last financial review, perhaps you would like to attend one of these events?
To register for this seminar please contact myself or e-mail seminars@spectrum-ifa.com
Nice-Cannes Relay Marathon
By Amanda Johnson
This article is published on: 15th September 2013
After completing my first Race for Life in France last year, Sarah has very kindly given me the opportunity to share an event that I am taking part in this November. It is the Nice-Cannes relay Marathon and I am running as part of a team of colleagues who will divide the 42 kilometres distance. I am in training as we speak!
I am very proud to be taking part and The Spectrum-IFA Group is raising money for our charity for 2013; “GIVEWATTS.org”.
There are thousands of people living in Off-Grid areas in Kenya. They are organised communities but spend up to 40% of their income on kerosene to burn for light which is not only expensive but dangerous, with terrible fumes, a high CO2 impact, the risk of starting a domestic fire and of burning a child. It also gives off a terrible dull yellow light.
Consequently many parents don’t let their children study after dark. Grades are held back and a chance to escape the poverty-trap is limited.
GIVEWATTS is doing a very simple but effective thing: providing high quality solar lamps that also have a USB charger built in for mobile phones, avoiding the need to walk for miles and to pay to charge them!
Lamps are not given to the parents, they are provided with micro-finance. The school calculates the average a family is spending on kerosene. That is the instalment amount they pay to the school to repay the lamp, thus, there is no extra cost/or resistance barrier to overcome and the lamp immediately 100% replaces kerosene. As soon as that person has finished paying they are 40% a week better off and they own the lamp.
For more information please look at our devoted web page on our website spectrum-ifa.com/givewatts or contact me.
Here is a photos of my colleague Chris, Board Member of GIVEWATTS Switzerland, who visited earlier this year.
My UK will and living in France
By Amanda Johnson
This article is published on: 15th August 2013
Question: Is it true that even though I live in France, new legislation is coming which means I can use my UK will when I die and will pay less inheritance tax as a result?
From August 17th 2015 European law will allow British Nationals the option of electing to use their UK wills in France. The inheritance tax regimes for France & the UK are quite different and professional advice should be sought before deciding which option is going to be correct for you.
Under the UK system each person has £325,000 of tax allowances before paying death duties on their estate, whilst in France it is 100,000 Euros per child per parent. Clearly the more children you and your spouse have the greater the allowance before paying death duties in France. You also have the tax advantages in France of using an Assurance Vie, where you can leave additional money per beneficiary outside of your inheritance tax bill.
As you can see where you pay inheritance tax is not a straightforward decision and opting to use a UK will is not necessarily a good idea for everybody. Although the new regulation is still two years away, understanding how you can maximise your inheritance tax allowances now, coupled will an understanding of which regime will suit your personal circumstances better after August 2015 is a sensible idea and getting the right advice is very important.
I offer a free consultation in the privacy of your own home to discuss your circumstances and explain how to maximise your tax free allowances here in France.
It is very important to manage your money so that it works hard for you, after all you’ve worked hard to earn it and have already paid tax on it, so why would you choose for your loved ones to pay more than they need to when you are gone?
Ask Amanda in The Deux Sevres Magazine & The Vendee Magazine
By Amanda Johnson
This article is published on: 30th June 2013
Since I started writing in The Deux Sevres Magazine & The Vendee Magazine, I have met and spoken to many interesting people who have either already made their permanent move to France or are in the final steps of doing so. They have many questions and here are some of those I have answered over the past year:
I have just sold my house in the UK and have some capital, why should I see a Financial Planner?So that all the financial options available to you in France can be explained, allowing you to make an informed decision based on your personal circumstances and aspirations.
I currently spend more time in the UK, why should I see a UK Financial Planner?UK financial rules and regulations differ to France. Talking to an “in-country” specialist & working with a French regulated company will enable you to keep up to date with the current rules relating to your finances and future changes as they arise.
If I need cash at a later date after buying a house here, can I easily release some equity in my French Property? This is a more complicated process than in the UK. The banks look very closely at what your plans for the money are and your personal circumstances. This is especially tricky if you find that your income has reduced since moving to France.
I have made a UK will, is that sufficient in France? If your main residence is in UK, then a UK will be fine. However, if your main residence is in France then it is necessary to make a French will.
If I move to France before retirement age, what happens to my UK Pensions until I am old enough to drawn them? There are many options available to you depending on your personal circumstances and this is an area that the needs looking at very carefully. Being an expatriate does allow you certain flexibility with historic employer pensions.
I have UK investments; can I get tax efficient investments in France? Yes, the French government give allowances to French residents and I can explain these to you, as well as whether the tax status on UK investments has changed with your move.
How much will it cost me to see a Financial Adviser? The Spectrum-IFA Group charges no fee for consultations. We get paid by the companies we deal with. Please ask for a copy of our client charter which explains how we work.
If you have any questions that you feel I may be able to help you with, please “Ask Amanda” and I will call you to discuss your questions and arrange the most appropriate answer.
UK Pensions and Living in France
By Amanda Johnson
This article is published on: 30th May 2013
When I see the Charente melons being planted in the fields near my house, I realise that the winter has finally left us and another year has flown by. To many people who now live in France, each year that passes brings us one step closer to retirement and being able further enjoy our French adventure. Working and living in France brings different factors to bear than being in the UK and without careful consideration and planning these can result in your pension being lower than anticipated.
People often ask me: “How much will my UK pension likely be & how can I maximise my pension when I come to retire in France?”
Helping people understand what their pension position is and how they get best manage retirement plans in France is a key part of my role. Here are some of the areas we discuss:
- UK state pensions
- Work & other private pensions
- French retirement options (including returning to the UK)
- Inheritance
- Peoples increasing life expectancy
- Property and other assets as a pension pot
- Paying tax on your pensions (how & where)
Having left the UK, you may not have paid sufficient National Insurance (“NI”) contributions or if self-employed, paid a different NI class to qualify for a full state pension.
You may have pension pots from working at different companies and having moved to France want an opportunity to understand how these will mature and whether they can be better put to work for your retirement plans. Inheritance issues and any property you are thinking of using to supplement pension income is also worth noting.
Finally, how and where you pay tax on your pensions can be discussed to ensure that the tax you pay is as low as possible.
If you are living and working in France and have not considered your retirement plans, perhaps you would like me to visit you and have a free financial health check or simply email me with any questions and I would be happy to help.
‘Ask Amanda’ – The Deux Sevres Magazine & the Vendee edition
By Amanda Johnson
This article is published on: 15th May 2013
Welcome to “Ask Amanda”.
I have been writing regularly for the Deux Sevres Magazine and am delighted to be invited to now contribute to the Vendee edition. I want to start by introducing myself.
I am Amanda Johnson and have lived in the Loudun area, with my family, for the past 7 years. I am a Financial Planner working with the regulated Independent Finance company “The Spectrum IFA Group”. We specialise in helping expatriates understand the benefits and obligations of living in the French system. Bilingual, with 20 years of financial experience in the UK, I am authorised through Orias in France and The Spectrum Group is also registered with the AMF.
Living in France is very rewarding but many of the rules and regulations, especially when it comes to taxation, inheritance, retirement planning, buying and renovating your home, differ from the UK. Working closely with colleagues throughout France ensures I can share experiences, best practices and keep you abreast of changes in French financial law. This is why I consider it important to have a servicing strategy of regular face to face meetings with my clients.
I am frequently asked about Inheritance tax planning and can usually make recommendations that ensure when you have lost a loved one any financial loss is kept to a minimum? I can help you optimise your savings by offering a range of investments in major currencies, protecting you from exchange fluctuations and from inheritance tax should the worst happen. I can also review existing pension arrangements giving advice on your future retirement plans.
Over the coming months I will be detailing questions I am asked and providing answers which have helped my customers & I hope will assist you. For a Free Consultation, on Inheritance tax, investments, retirement planning and tax efficient buying or renovating your home, or to review your current circumstances, please contact me.