Bourse
Published on 08/02/2021 at 10:20 – Updated on 08/02/2021 at 15:41
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I have in a life insurance (Allianz) a support (Allianz actions Euro Midcap code Isin lu1505875226).
This sicav contains English funds.
My question: is it affected by the effects of Brexit on 09/30/2021 ???
thank you for your insight.
It is best to consult the issuer’s website, which details on its security sheet the composition of each fund and thus allows you to assess the portion of United Kingdom securities contained in the fund and therefore its possible exit from the PEA at the deadline.
As regards more particularly the Allianz Europe Mid Cap Equity fund with Isin code LU1505875226, which contains a proportion greater than 25% of its composition in British securities, it will no longer be eligible, al proportion of the 75% in eligible securities not being not respected.
In this case, all the information is accessible on the following link:
https://fr.allianzgi.com/fr-fr/nos-opcvm/fonds/liste/allianz-europe-mid-cap-equity-at-eur
You will find several articles on this topic on the Revenu website, click here.
Similarly, Le Revenu n ° 1647 from July 30 to August 5, 2021, released on Friday, specifically devotes a development to this subject:
“PEA Watch out for the September 30 deadline for your UK titles”:
– By this deadline, shares and funds that have become ineligible due to Brexit must be sold or transferred to a securities account.
– Otherwise, your plan will be automatically closed. Procedure before September 30.
The grace period is coming to an end for PEA holders housing UK securities.
On September 30, these securities will no longer be available in this medium and its little brother reserved for mid-caps, the PEA-PME.
The two tax havens, which make it possible to invest up to 150,000 euros and 225,000 euros respectively (cumulative for the two plans), see their scope reduced by the exit of the United Kingdom
of the European Union.
The PEA and PEA-PME can in fact only accommodate shares of companies from the European Economic Area (EEA), which includes the European Union and three other countries (Norway, Iceland and Liechtenstein), or UCITS (FCP and sicav) invested at least 75% in the securities of these companies.
Since January 1, it is already no longer possible to accommodate new British securities (or funds that do not meet the 75% criterion) in their PEA.
But for those who held it on December 31, 2020, a transition period was granted by Bercy, until September 30.
On this date, it is a question of having regularized the situation.
Information duty of your intermediary
The individuals concerned were informed of this through their intermediary, who had until April 30 to report any presence in a PEA or PEA-PME of securities that had become ineligible because of Brexit (and until March 1 for funds).
The situation is common because many emblematic listed companies have their head offices in the United Kingdom, such as Astrazeneca, HSBC, Rolls-Royce, Unilever, Vodafone or even
Easyjet.
Regarding funds, many managers have adapted their investments to respect the quota of 75% in European company securities.
But not all.
The Allianz Equity Growth Europe fund, like the BNP Paribas Easy ETF low carbon Europe 100 tracker, for example, have become ineligible for the PEA due to too large a share
of British securities.
Classic arbitration or transfer with compensation
If you are concerned, two solutions are available to you:
– sell securities and funds that have become ineligible or
– transfer to a securities account.
The first option is the simplest: you carry out a classic arbitrage within your plan by selling your British securities before September 30, without any tax consequences.
The second option is to withdraw these shares (or funds) from your PEA by transferring them to a securities account, which you will need to open if necessary.
So that this transaction is not considered as a withdrawal, you must then make a compensatory payment on your plan, the amount of which corresponds to the value of the securities at the time of the transfer.
As a result, no impact on the life of your PEA.
Watch out for automatic closing
If, on the other hand, you omit this payment (you have two months to do so after the transfer), the sale of the UK securities will be considered as a withdrawal.
With its consequences: if the PEA is more than five years old, any capital gain will be subject to social security contributions (17.2%).
And if it is less than five years old, the withdrawal will result in the closure of the plan and the taxation of the capital gain at the single flat-rate levy (PFU or flat tax) of 30%.
Notice to procrastinators, doing nothing by September 30 exposes you to the same fate, and worse: your plan will be automatically terminated whether or not it is more than five years old.
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