Business

HELEN BOOTH

INDEPENDENT FINANCIAL ADVISER deVere France

New Year Review

It’s that time of year again! The festivities have ended, the wine’s drunk, and the leftovers have all been consumed. It’s also around this time that we vow to stick to our “new” New Year resolutions. If you’re undecided as to what they might be, perhaps it is time to make a resolution for reviewing your finances as well. Now that the impact of Brexit is more known, and with banks closing accounts and credit cards for people not living in the UK, and restrictions on how you can access your pensions, it would be wise to look at how it will have had an impact on your financial goals, your pensions, and your savings. ▪ When was the last time you did/had a financial review? ▪ Are your savings now in the right account and place? ▪ Do you know that you are getting the best returns on your savings account? ▪ Do you know how your investments have been performing? ▪ Are your savings in a tax efficient investment plan? ▪ Could your investments be performing better? ▪ Are your pensions located in the best country if you live in France? ▪ Do you have pension schemes in the UK that you don’t know about or are unsure about their future ability to provide a pension? ▪ Is it time to investigate moving your pensions from the UK? ▪ If you are saving for something in particular, are your savings on track to enable you to reach your goal? ▪ Have you been getting the best exchange rates from sterling to euros? ▪ Have your financial needs or priorities changed? ▪ Are you up to date with any changes in the French tax system that could have an impact on your savings and investments? ▪ What effect has Brexit had on your pensions and savings? These are just a few of the many important questions that you should regularly ask yourself regarding your finances - and not just at the beginning of each new year either. If you are unsure about some of the answers that are revealed when asked, then it’s likely time for a financial review. It is always wise to have a regular financial review to make sure that you are fully informed of any financial changes that may have happened, and to see if you can make your money work even harder for you during these challenging times. I can assure you that it will be time well spent to ensure that you are in the best position you can be with your finances. All you’ll have lost is the time it takes for a review to be performed; time that will repay you with peace of mind and reassurance. When choosing an adviser to carry out a financial review on your behalf, always ensure that they are fully regulated in the country they are based in, as well as being fully independent, so that they can offer impartial advice and have access to all of the financial markets.

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere adviser for a personal consultation.* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.

No doubt, many business owners will look back on 2021 with relief. The year was one of slowdowns, lockdowns, interspersed with periods of catching up on lost income, and somehow, you survived! Being self-employed is like managing a small boat in unknown waters; rough one day, smooth the next. Success is a series of small wins, and 2021 will be a series of small victories, just like the years before. Did you notice yours? Either your year was a well-mapped plan of action that contributed to achieving those much bigger goal(s), OR your year was more ‘let’s crack on and see where this goes’. Either way, those small wins would have contributed one way or another. We may not have had the time or even thought it necessary to take stock of those small wins. We would have all had them but maybe not noticed them. Some moments of success may have stood out, and you momentarily thought, “Oh yeah, cool”, and just moved on. It’s easy to focus on what hasn’t gone well, and that’s natural, as human beings tend to tune into negativity more than positivity, so those small wins get overlooked. And it’s those small wins that add up to something bigger! Those small wins, when we acknowledge them, keep us motivated. And boy, when you are self-employed, motivation is an essential ingredient. We need to produce it ourselves as well as seek external motivational support. When we tune into the little accomplishments, something powerful starts to form momentum. Small wins improve our confidence, and when our confidence grows, it propels us to do more. Those small wins also make us happy!

Savour those small wins in 2022

− Could you make a note of them as often as you can? Keep a success file or journal so you don’t forget them. − Create a celebratory playlist − Celebrate them! Do whatever it takes to keep your motivation and momentum levels high.

Could you do more to recognise, acknowledge, and celebrate more small successes throughout 2022 and not just at the year-end? Let’s hope so. When we tune into the little accomplishments, Take some time out to look back on 2021 and take stock of those small wins, and you might surprise yourself.something powerful starts to form

MICALA WILKINS

ALACIM SOCIAL MEDIA MARKETING

TONY FARRELL INTERNATIONAL FINANCIAL ADVISER The Spectrum IFA Group, with over 20 years’ experience advising expatriates throughout Europe on all aspects of financial planning T: 05 55 89 57 94 E: tony.farrell@spectrum-ifa.com

TSG Insurance Services S.A.R.L. Siège Social: 34 Bd des Italiens, 75009 Paris. R.C.S. Paris B 447 609 108 (2003B04384). Société de Courtage d’assurances. Intermédiaire en opération de Banque et Services de Paiement. Numéro d’immatriculation 07 025 332 – www.orias.fr Conseiller en investissements financiers, référencé sous le numéro E002440 par ANACOFI-CIF, association agréée par l’Autorité des Marchés Financiers

Let’s talk currency

Sue Cook

Regional Coordinator Centre Ouest 87600 Rochechouart +33 (0)555 036 669 +33 (0)689 992 889 E: sue.c@currenciesdirect.com www.currenciesdirect.com/france

Siret: 444 729 008 00011

Advertise Your Business Contact Sam or Gayle: editors.etcetera@gmail.com

ISABELLE WANT

BH ASSURANCES

This was one of President Macron’s promises during the last presidential election and for once, a politician is good to his word! You might have noticed that in the French system, 100% cover does not actually mean 100% of the cost covered but 100% of the price set by the French health system. This means that French people could not afford to go to the dentist or get hearing aids. Between 25 and 30% of people who got a quote for crowns, glasses, or hearing aids did not get them due to what it would have cost them. For that reason, Mr Macron came up with a reform called “réforme 100% santé”. So, how can it work for you?

How does it work for glasses:

What is concerned by this reform and for when:

Same here, depends on the type of glasses you want (frame and lens). There are 2 types, class A and Class B. Class A were fully reimbursed in 2020. But you can choose frames at class B and lens at class A or vice versa. There are so many types of glasses that it would be too lengthy for me to explain! Your optician will be able to advise you of this.

How does it work for hearing aids:

It concerns 3 aspects of the health system: teeth, glasses, and hearing aids. The law was gradually implemented over 3 years, and came into full force in January 2021. The changes have been implemented by all 3 entities concerned: the French health system, the top-up insurance company, and the medical professionals. So, everybody makes an effort but as you will see below, the effort is more for some than others!

How does it work for teeth:

It depends on the material, the type of work, and which tooth it is. It only concerns a dental prosthesis or crowns. All teeth are concerned but if it is a back tooth (molar tooth) the material must be metal instead of ceramic. The price set by the health system today is 107.5€ for a crown, and in 2020, it was increased to 120€. In 2018, professionals had no cap on prices they can charged, in 2019 the maximum price was 530€ and in 2020 it was 500€. If you have a 100% cover today for teeth, your top up will reimburse you 30% of 107.5€ (32.25). In 2020 the reimbursement was 416€ (30% of 120€ + 380 (500-120)). Same here, depends on the equipment you take, so don’t expect the latest super hearing aid! The price set by the health system was 300€ per ear, in 2020, it was increased to 350€, in 2021, it was 400€. In 2018, professionals had no cap on prices they can charge, in 2019 the maximum price was 1300€, in 2020: 1100€ and in 2021 it was 950€. In 2021 the reimbursement was 670€ (30% of 400€ + 550 (950400)).

What obligations/innovations:

With this law, there are a few obligations for professionals such as an obligation to give you more than one quote on their work and one of the quotes must be one at 100% reimbursed. So, for hearing aids, that means they are obliged to have a hearing aid that fits the criteria for 100% reimbursement. Authorisation for a glasses shop to renew the eye doctor prescription within 5 years and do an eye test themselves invoiced at 10 € max. Level of cover for top-up insurance companies must be standardised with an example of reimbursement in € instead of percentages. Creation of a quality questionnaire for glasses and hearing aids shop. Creation of an entity in charge of checking that this new law is respected by

medical professionals and insurance companies! As if!

Contrat Responsable/contrat non responsable:

Note that this reform only applies to state approved top-up contracts called “contrat responsable”. So, if you have an Eco or HOSPI Only cover with us, Allianz, you will not benefit from the 100% santé reform. Obviously, “contrat non responsable” are cheaper but can work just as good as long as you don’t care about cost for teeth, glasses and hearing aids and are only looking for basic cheap cover. So, to make sure you can benefit from the 100% santé reform, make sure you have a “contrat responsable”. It is written on your contract.

Conclusion:

This law is mainly implemented for people who could not afford to have the work done so don’t expect the best quality crowns, glasses or hearing aids… but still better than nothing at all. To make sure you can benefit Also please note that the effort here will be mainly done by top-up policies which from the 100% santé reform, apparently have agreed not to increase make sure you have a their premium by too much! Which gives “contrat responsable” me the opportunity to tell you that Allianz do a very good top-up. With most top-up health insurance, the covers are based on levels (level 1 to 6 for example) which means that if you want the best hospital cover, you will also pay for the best dental and optical cover. With Allianz, you can pick and choose what you want, which makes it cheaper!

Isabelle Want 06 17 30 39 11 Email: isabelle.want @bh-assurances.fr

22 rue Jean Jaures. 16700 Ruffec Tél:+33 (0)5 45 31 01 61 10 Bd du 8 mai 1945 16110 La Rochefoucauld Tél:+33 (0)5 45 63 54 31 102 Avenue de la République 16260 Chasseneuil sur Bonnieure Tél:+33(0)5 45 39 51 47 2 Avenue de la Gare 16270 Roumazieres-Loubert Tél:+33(0)5 45 71 17 79

Obligations for Quotes in France

Before any purchase (product or service) the consumer must be able to know the price and compare without difficulty. This is why price display is obligatory in a retail outlet or bar/restaurant and in most cases is sufficient. However, a quote is useful as soon as the product or the service is more complex and personalised (e.g. building work, tailored clothing, etc.), and where it is in this case difficult otherwise for the consumer to know what to expect to pay and be sure of the description of the order.

A quote is required in the following cases:

▪ Since the Hamon law of 17th March 2014 concerning consumption, relating to all services, the professional must provide a sufficiently detailed quote at the request of the consumer when the price cannot be determined in advance. ▪ Professionals are legally required to establish a quote prior to execution of the work, where the estimated amount is superior to 150 euros for: - work such as connection, installation, maintenance and repair of electrical equipment, electronics, and home appliances, regardless of where the work is to be undertaken; - repairs and maintenance services carried out in the following areas: masonry, chimney fitting, air-conditioning installations (with the exception of tasks performed under contracts for heatingcooling), sweeping, insulation, carpentry, locksmith services, roofing, plumbing, bathroom installations, flushing, plastering, painting, glass fitting, mirror making, wall cladding and flooring in all materials, electrical installation; - work involving the replacement or addition of parts, components or devices, after the previously mentioned services. (But for all these jobs less than 150 euros the professional must nonetheless provide a quote if requested to do so by the consumer). This quote should include 17 legal details: 1. the date of the quote 2. written confirmation that this was received before the start of work date « devis reçu avant l'exécution des travaux » with the signature and date written by the client 3. the name, address, telephone number, and email address of the company 4. legal status of the business –Entreprise Individuelle, SARL, SAS etc. 5. Siret number – for artisans – their RM registration number and the dept 6. TVA number or the phrase – TVA non-applicable art. 293B du CGI – for non TVA registered businesses 7. the full name of the customer 8. the start date and the estimated duration of the work 9. the detailed description of each service, in quantity and unit price 10. the cost of labour 11. extra costs or travel expenses that will be billed 12. the means of payment, delivery and execution of the contract 13. reclamation means and after-sales conditions 14. the total amount to pay HT and TTC and rate of TVA applicable 15. the deposit amount to be paid at the moment of signature of the quote 16. whether the quote is free or paid for 17. how any waste or debris will be dealt with – this is an additional obligation since the 1st July 2021 – the quantity expected, how it is to be managed and taken away, where the business is going to deposit the debris and the estimated costs concerning the management of the debris/waste. The following can also be added: 1. the duration of validity of the quote 2. as part of the services of emergency repair and maintenance in the building and home appliance sectors, it must also be indicated if the quote is free or payable The quote from an artisan should also include the company’s insurance details: − the type and contract no. of insurance − the insurance company’s name and address − if there is a geographical limitation –e.g. valid only in France.

The quote can be charged to the client

The quote is in principle free, but nothing prohibits an artisan from charging for a quote especially in the case of travel and/or in-depth studies of the situation. In this case the professional must inform the customer of the price to pay for the quote. When the quote is to be paid, the professional can propose to deduct the amount of the quote from the service eventually provided. However, for removal services or medical optic products, for example, the quote is free.

LINDSEY QUERIAUD

OWNER: CAST T: 05 45 84 14 94 lindseyqueriaud@outlook.com

The quote binds both parties

The quote, as an estimate by the professional of the proposed work, is a legal contract proposition, and, as such, it commits the professional very precisely on the scope of the work and the cost, but also to the time delays. It is preferential that the professional seeks legal advice for the creation of their general terms and conditions and where the project could have legal risks for the specific terms. For example, a builder is quoting for a groundwork job - he cannot say for sure that the soil does not contain a large quantity of rock so would include a specific clause that would allow a reevaluation of the price where necessary for unexpected extra work. The consumer is never obliged to entrust the work to any one professional. The quote will commit the customer from the moment where he has expressed his willingness to have the work undertaken by the professional, by a signature at the bottom of the quote, next to «bon pour travaux». There should be two examples of the quote, for both to sign and one for each party to keep.

The quote binds both parties

The quote, as a calculation by the professional of the proposed work, is a legal contract proposition, and, as such, it commits the professional very precisely on the details of the products and the price. If an artisan is unsure of the exact price, he can produce a devis estimatif.

Cash Payments

In order to counteract money laundering, all professionals or individuals who fiscally reside in France are prohibited from paying a debt or purchase that is greater than 1 000 € in cash. From business to business, this is limited to 150 € in cash.