Every spring, filing your tax return is an unmissable event for the French, but certain details can make the difference in the final amount of tax to be paid. This year, we advise you once again to pay particular attention to box 2CA, which is a discreet field on the tax return that can nevertheless allow around 5 million taxpayers to reduce their tax bill, as explained by our colleagues at Ouest France and the newspaper Le Temps.
Remove financial charges
Box 2CA concerns charges related to the management of financial investments, which are sums that many savers pay each year without always knowing that they are deductible. These include securities custody fees, which represent on average 0.4% of the amount invested and are charged by the bank for the safekeeping of the assets.
This is also the case for security insurance premiums or safe deposit box rental fees. Contrary to what one might think, these charges are not automatically taken into account in the pre-filled declaration and it is therefore up to each individual to check and, if necessary, complete box 2CA, located between boxes 2DI and 2AB of the form.
To be able to benefit from this deduction, there is, however, one essential condition: having chosen taxation on the progressive income tax scale. This involves checking box 2OP, which indicates to the tax authorities that you want your income from movable capital (dividends, interest, etc.) to be subject to the standard scale, and not to the single flat-rate withholding tax of 30%, also known as the flat tax.
This choice is not trivial, since depending on your tax bracket, it may be more or less advantageous to opt for one or the other of the regimes. Le Temps points out that “in certain cases – particularly if you are taxed in the 30% or 40% brackets – this flat tax may prove more advantageous.” It is therefore advisable to run a simulation before validating your declaration (and before checking box 2CA).
5 million eligible people
The fees covered by box 2CA do not apply to all investments. For example, the Stock Savings Plan (PEA) is excluded from this system. However, for ordinary securities accounts, the deduction remains possible, explains the government website. According to estimates relayed by Le Temps, nearly 5 million taxpayers could benefit from this measure, but few people are aware of it. So check carefully before validating your declaration!
To avoid any errors or omissions, the first thing to do is to consult your bank statements and contact your bank to obtain the details of the management and custody fees charged during the year. Ouest France also reminds us that the online declaration (which is accessible at impots.gouv.fr) allows you to correct any information and that help tools are available to guide users.
0 Comments