Highlights of the week: 5.2% inflation in May 2022!  What are the penalties for filing a late tax return?  How do you pay off your loan before it is due?

Highlights of the week: 5.2% inflation in May 2022! What are the penalties for filing a late tax return? How do you pay off your loan before it is due?


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Net life insurance inflows reached €10.5 billion in the first four months of 2022, a level not seen since 2011. Inflation was 5.2% in one year in May 2022. Submitting a tax return late could increase taxes. It is possible to pay off the mortgage before the term. The Lemoine Act enhances the Standard Borrower Insurance Information Sheet. In the event of difficulties in paying income tax, a delay may be requested from the tax authorities. As of August 25, 2022, rents for energy-intensive housing can no longer be increased across France.

index:

  • Life insurance: 10.5 billion euros collected in the first four months of 2022

  • Inflation: Consumer prices rose 5.2% in May 2022

  • Taxes 2022: What are the penalties for late filing?

  • Home loan: How is the payment done before the deadlines?

  • Borrower Insurance: New Information in the Consolidated Sheet

  • Taxes 2022: What to do in case of difficulties with payment?

  • It is no longer possible to increase rents for energy-intensive housing

Life insurance: 10.5 billion euros collected in the first four months of 2022

Net inflows into life insurance reached 10.5 billion euros in the first four months of 2022, a level not seen since 2011, according to data provided by the French consortium Assureurs. Since the beginning of 2022, life insurance premiums have reached 53.7 billion euros, the highest level since 2010. “If inflation returns, it does not start the enthusiasm of the French for life insurance, which continues to develop, month after month.”, Frank commented in a press release Le Valois, General Manager of France Assureurs.

Inflation: Consumer prices rose 5.2% in May 2022

Consumer prices in France rose 5.2% in one year in May 2022, according to a preliminary estimate published by the National Institute of Statistics and Economic Studies (Insee). The National Institute of Statistics and Statistics points out that this inflation is caused by acceleration in the prices of energy, services, food, and manufactured goods. France has not experienced an inflation rate above 5% since 1985, having exceeded 13% in 1980 and 1981. The final results for May 2022 must be published on June 15, 2022 and will be used exclusively for calculating the alimony hike.

Taxes 2022: What are the penalties for late filing?

The 2021 tax filing campaign is now over. The taxpayer has to certify his or her return after the deadline for a tax increase. This increase is 10% in the absence of formal notice, 20% if the declaration is made within 30 days of formal notice and 40% when the deposit is made after these 30 days. , the site calls service-public.fr. In the event of an error in favor of the taxpayer the increase is 10% unless the latter makes an automatic adjustment or within 30 days after reminding the tax administration.

Home loan: How is the payment done before the deadlines?

The borrower can “always, at his own initiative, pay in advance, partially or completely” his mortgage, recalls the Ministry of Economy, Finance and Recovery, citing the Consumer Law. However, the loan contract may provide for a prohibition on repayment equal to or less than 10% of the initial loan amount. To proceed with early repayment, you must contact the lending institution to inform them of this desire. The latter is required to send a quantitative estimate of the costs to be paid, knowing that this estimate is free of charge if the contract was concluded after July 1, 2016.

Borrower Insurance: New Information in the Consolidated Sheet

The Lemoine Act, which partially took effect on June 1, 2022, enhances the standard information sheet that banks send to any applicant for a mortgage. This paper should now specify the total cost of the borrower’s insurance for the first eight years, the definition of disability (different from that of social security), the end of the medical questionnaire (for loans under €200,000) and the fact that it is possible to obtain insurance with another body. The aim of this additional information is to “encourage competition and reduce the total cost of credit”, as service-public.fr identifies.

Taxes 2022: What to do in case of difficulties with payment?

Taxpayers who have difficulties paying income tax can request a payment delay from the tax authorities, the Ministry of Economy, Finance and Recovery recalls. To do this, it is best to submit your application as soon as you receive your tax notice, in your own space on the tax website via messages (section “I find it difficult to pay”) or by going to the Public Finance Center. The tax authorities examine applications on a case-by-case basis depending on the status of the taxpayer (unemployment, death of a spouse, separation, disability, etc.).

It is no longer possible to increase rents for energy-intensive housing

From August 25, 2022, it is no longer possible to increase rents for housing classified F (“extremely inefficient”) or G (“very inefficient”) in diagnosing energy performance throughout urban France. This prohibition applies to all types of rentals (empty, furnished, moving rental) and whether it is a new lease, renewal or renewal. In 28 tense regions in terms of housing, this ban has already been in effect since January 1, 2021. For the outer provinces (Guadeloupe, Martinique, Guyana, Reunion and Mayotte), the application will be submitted from July 1, 2024.

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