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Why choose to pay your taxes in monthly installments ?

Why choose to pay your taxes in monthly installments ?

In France as standard, tax payers’ pay their taxes through a system that enables three payments per year. However, more and more people in France are opting to pay monthly.

WHAT ARE THE ADVANTAGES OF PAYING MONTHLY INSTEAD OF IN THIRDS

Before looking at the advantages, it is important to understand the differences between the two systems:
• Monthly payment system enables you to spread your tax payments over 10 months from January until October.
• The 3 yearly payments is a system that enables taxpayers to pay their taxes in three lump sum payments, mid February, mid June and Mid September.
• These two systems have their advantages, however it would be true to say that the monthly payments system is far more practical for many households.

Thanks to the monthly payments system:

• You will have better visibility of the amount that you should be paying each month.
• You won’t have to pay out large sums: as the payment is made each month. Your expenses will be spread over the year and so will make your accounting more straightforward.
• Finally, with monthly payments, you will avoid the 10% late payment penalty should you ever forget to pay your bill. This will mean setting up a direct debit set up for the 15th of each month.

WHICH TAXES CAN I PAY MONTHLY?

You can opt for monthly payments for income tax, property taxes (taxe d’habitation, taxe foncière) and social contributions. You don’t have to put all of them on monthly payments: a lot of taxpayers choose just to do this for their income tax.

I WANT TO SWITCH TO MONTHLY PAYMENTS: WHAT DO I NEED TO DO?

It’s very easy. You just need to access your personal space on the tax website www.impots.gouv.fr and activate the monthly payment of the tax of your choice. Be careful however:
• If you make your request before the 30th June, the modification will be implemented for that year.
• However, from the 1st July, the system will only be put in place the following year, in January.

LOCAL TAX PAYMENT CALENDAR (excluding monthly payments)

  PROPERTY TAX
(taxe fonciere)
COUNCIL TAX & TELEVISION LICENCE
(taxe d’habitation & redevance audiovisuelle)
By Classic payment- cheque, cash or transfer 16th October 2017 15th November 2017
By Payment via the site impots.gouv.fr or via the app impots.gouv 21st October 2017 20th November 2017
By Direct debit (deadline*) 26th October 2017* 25th November 2017*
* Date of diect debit


Deciding which system you prefer is a very personal choice. Take time to think about it before opting for either of the two systems.