French Inheritance Tax
Discussion
Hi,
I am hoping someone can point me in the right direction.
My partner is the sole beneficiary of her mother’s estate and has been left some Pernod Ricard shares.
In order for the shares to be transferred the French depository bank have asked for “The tax certificate of payment or nonpayment of inheritance tax issued by the non-residents of Noisy-le-Grand, indicating in the appendix the value of the shares in custody on the day of death”.
My current assumption is that this is some sort of approval that no inheritance tax is due as from what I can see online, whilst the beneficiary appears liable for French inheritance tax and not the estate, there should be no French inheritance tax payable as the deceased and beneficiary are, and only ever have been UK resident and shares are not immovable property (these shares are the only French assets her mother held and were received many years ago as a result of Pernod Ricard’s takeover of Allied Domecq).
Does anyone have any experience of applying for and obtaining such a tax certificate?
Any information very gratefully received.
Many thanks
(Also posted in FINANCE Forum as I wasn't sure where best to post)
I am hoping someone can point me in the right direction.
My partner is the sole beneficiary of her mother’s estate and has been left some Pernod Ricard shares.
In order for the shares to be transferred the French depository bank have asked for “The tax certificate of payment or nonpayment of inheritance tax issued by the non-residents of Noisy-le-Grand, indicating in the appendix the value of the shares in custody on the day of death”.
My current assumption is that this is some sort of approval that no inheritance tax is due as from what I can see online, whilst the beneficiary appears liable for French inheritance tax and not the estate, there should be no French inheritance tax payable as the deceased and beneficiary are, and only ever have been UK resident and shares are not immovable property (these shares are the only French assets her mother held and were received many years ago as a result of Pernod Ricard’s takeover of Allied Domecq).
Does anyone have any experience of applying for and obtaining such a tax certificate?
Any information very gratefully received.
Many thanks
(Also posted in FINANCE Forum as I wasn't sure where best to post)
Edited by iansp on Wednesday 22 June 10:30
I don't know the answer, this is a guide https://www.ashtonslegal.co.uk/your-life/french-le...
I think that the answer depends where she and her parents were resident for tax at the time of their death. I think the registrar’s question would normally apply to someone resident in France.
If you have probate in the UK showing any IHT taxes paid, then that should be sufficient. My wife was tax resident in France and also inherited these shares from her parents, she just sold them here, after UK probate.
Of course, that was pre-Brexit, but I don't think that should be significant.
I think that the answer depends where she and her parents were resident for tax at the time of their death. I think the registrar’s question would normally apply to someone resident in France.
If you have probate in the UK showing any IHT taxes paid, then that should be sufficient. My wife was tax resident in France and also inherited these shares from her parents, she just sold them here, after UK probate.
Of course, that was pre-Brexit, but I don't think that should be significant.
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