Personal finance: what to remember this week

Net life insurance inflows reached 10.5 billion euros in the first four months of 2022, a level not seen since 2011. Inflation was 5.2% over one year in May 2022. Send filing your tax return late may lead to a tax increase. It is possible to repay a mortgage before term. The standardized information sheet on borrower insurance is reinforced by the Lemoine law. In the event of difficulties in paying the income tax, a delay may be requested from the tax authorities. From August 25, 2022, the rents of energy-intensive housing can no longer be increased throughout metropolitan France.

Summary:

  • 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 penalties for a late tax return?

  • Home loan: how to repay before term?

  • Borrower insurance: new information in the standardized sheet

  • Taxes 2022: what to do in case of difficulties to pay?

  • The rents of energy-intensive housing can no longer be increased

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

Net inflows in life insurance reached 10.5 billion euros in the first four months of 2022, an unprecedented level since 2011, according to data provided by the France Assureurs federation. Since the start of 2022, life insurance contributions have amounted to 53.7 billion euros, the highest level since 2010. “If inflation is back, it has not started the enthusiasm of the French for life insurance, the development of which continues, month after month”, commented in a press release Franck Le Vallois, managing director of France Assureurs.

Inflation: consumer prices rose 5.2% in May 2022

Consumer prices in France increased by 5.2% over one year in May 2022, according to an initial estimate published by the National Institute of Statistics and Economic Studies (Insee). This inflation would be caused by an acceleration in the prices of energy, services, food and manufactured goods, indicates INSEE. France had not experienced an inflation rate above 5% since 1985, after having exceeded 13% in 1980 and 1981. The final results for the month of May 2022 must be published on June 15, 2022 and will be used in particular to the calculation of the revaluation of alimony.

Taxes 2022: what penalties for a late tax return?

The 2021 tax filing campaign is now over. A taxpayer validating or sending his declaration after the deadline incurs an increase in his tax. This increase is 10% in the absence of formal notice, 20% if the declaration is filed within 30 days of the formal notice and 40% when the filing is made beyond these 30 days. , recalls the site service-public.fr. In the event of an error favorable to the taxpayer, the increase is 10%, unless the latter carries out a regularization spontaneously or within 30 days following the reminder from the tax administration.

Home loan: how to repay before term?

The borrower “can always, on his initiative, prepay, in part or in full” his mortgage, recalls the Ministry of Economy, Finance and Recovery citing the Consumer Code. The loan agreement may however provide for the prohibition of a reimbursement equal to or less than 10% of the initial sum lent. To make an early repayment, you must contact the lending institution to inform it of this wish. The latter is required to send a quantified estimate of the costs to be paid, knowing that this estimate is free if the contract was concluded after July 1, 2016.

Borrower insurance: new information in the standardized sheet

The Lemoine law, which partially came into force on June 1, 2022, strengthens the standardized information sheet sent by banks to any applicant for a mortgage. This sheet must now specify the total cost of borrower insurance over the first eight years, the definition of disability (different from that of Social Security), the end of the medical questionnaire (for loans of less than 200,000 euros) and the fact that it is possible to purchase insurance from another organization. The objective of this additional information is “to encourage competition and reduce the overall cost of credit”, specifies the site service-public.fr.

Taxes 2022: what to do in case of difficulties to pay?

Taxpayers encountering difficulties in paying their income tax can request a payment delay from the tax authorities, recalls the Ministry of Economy, Finance and Recovery. To do this, it is best to make your request as soon as you receive the tax notice, on your own space on the tax website via messaging (section “I have difficulty paying”) or by going to its public finance center. The tax authorities examine requests on a case-by-case basis depending on the taxpayer’s situation (unemployment, death of spouse, separation, disability, etc.).

The rents of energy-intensive housing can no longer be increased

From August 25, 2022, the rents of housing classified F (“very inefficient”) or G (“extremely inefficient”) in the energy performance diagnosis can no longer be increased throughout metropolitan France. This prohibition applies to all types of rentals (empty, furnished, mobility lease) and whether it is a new rental, a renewal or a renewal of the lease. In the 28 agglomerations strained in terms of habitat, this ban had already been in force since January 1, 2021. For the overseas departments (Guadeloupe, Martinique, Guyana, Reunion and Mayotte), the application will be made at from July 1, 2024.

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