Exchange rate for tax declaration
May 7th 2009, 9:27 am
#1
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Exchange rate for tax declaration
Am currently making out French tax declaration for year 2008/9, and would like to know what rate of exchange to use in order to show UK pension which is obviously in sterling. Called one French tax office and was told to get this info from Banque of France! 
Next office I called took some time to find this info, and eventually stated that for tax year 2008/9 a rate of 1 euro = 0.9525 GBP should be used. Any specialists here agree/disagree with that?
Obviously the rate suggested is more advantageous than using the current exchange rate.
Another related query. Uk pension slip obviously shows annual amount from April 08 to Apr09, whereby French tax return is based on a calender year. Without unnecessarily confusing the issue (myself & authorities) is it generally acceptable to state the April 08 to Apr09 amount received?
Next office I called took some time to find this info, and eventually stated that for tax year 2008/9 a rate of 1 euro = 0.9525 GBP should be used. Any specialists here agree/disagree with that?
Obviously the rate suggested is more advantageous than using the current exchange rate.
Another related query. Uk pension slip obviously shows annual amount from April 08 to Apr09, whereby French tax return is based on a calender year. Without unnecessarily confusing the issue (myself & authorities) is it generally acceptable to state the April 08 to Apr09 amount received?
May 9th 2009, 9:25 am
#2
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Re: Exchange rate for tax declaration
Hi Tweedpipe
Like you I am in the process of filling in my return. I spoke with a close friend of mine yesterday, whose tax office is Gourdon. They have given him a rate of exchange of 1.049868766. This is the Bank of France official rate at 31.12.2008 and apearrs to be the acceptable base for calculating income and this equates to the Sterling equivalent you have quoted. This is the figure I will use as it is confirmed on document numbered "BIC-IV-32000.,MF9060" given to my friend by his local tax office.
Like you I am in the process of filling in my return. I spoke with a close friend of mine yesterday, whose tax office is Gourdon. They have given him a rate of exchange of 1.049868766. This is the Bank of France official rate at 31.12.2008 and apearrs to be the acceptable base for calculating income and this equates to the Sterling equivalent you have quoted. This is the figure I will use as it is confirmed on document numbered "BIC-IV-32000.,MF9060" given to my friend by his local tax office.
May 9th 2009, 9:55 am
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Re: Exchange rate for tax declaration
Hi Tweedpipe
Like you I am in the process of filling in my return. I spoke with a close friend of mine yesterday, whose tax office is Gourdon. They have given him a rate of exchange of 1.049868766. This is the Bank of France official rate at 31.12.2008 and apearrs to be the acceptable base for calculating income and this equates to the Sterling equivalent you have quoted. This is the figure I will use as it is confirmed on document numbered "BIC-IV-32000.,MF9060" given to my friend by his local tax office.
Like you I am in the process of filling in my return. I spoke with a close friend of mine yesterday, whose tax office is Gourdon. They have given him a rate of exchange of 1.049868766. This is the Bank of France official rate at 31.12.2008 and apearrs to be the acceptable base for calculating income and this equates to the Sterling equivalent you have quoted. This is the figure I will use as it is confirmed on document numbered "BIC-IV-32000.,MF9060" given to my friend by his local tax office.
Thanks for the feedback. Looks like I'll go with that rate then.
Cheers
May 9th 2009, 10:24 am
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Re: Exchange rate for tax declaration
Bleu des Causses, as I'm in the Lot
May 9th 2009, 5:12 pm
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May 16th 2009, 8:44 am
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Re: Exchange rate for tax declaration
Is there anyone here able to respond to my 2nd query, namely:-
Uk pension slip obviously shows annual amount from April 08 to Apr09, whereby French tax return is based on a calender year. Without unnecessarily confusing the issue (myself & authorities) is it generally acceptable to state the April 08 to Apr09 amount received?
If not, have any UK expat pensioners ever requested an official UK pension slip showing their annual amount from Jan-Dec?
Uk pension slip obviously shows annual amount from April 08 to Apr09, whereby French tax return is based on a calender year. Without unnecessarily confusing the issue (myself & authorities) is it generally acceptable to state the April 08 to Apr09 amount received?
If not, have any UK expat pensioners ever requested an official UK pension slip showing their annual amount from Jan-Dec?
May 16th 2009, 10:14 am
#7
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Re: Exchange rate for tax declaration
Hi again
For me the issue is consistency. I have always used Jan-Dec, but if you always use April to April, I can't see a problem with the revenue.
Incidentally, I didn't just take my friend's word about the exchange rate (although I trust his judgement), I contacted Cahors tax office and they confirmed the rate of 0.9525, wch converts to 1.04etc.
For me the issue is consistency. I have always used Jan-Dec, but if you always use April to April, I can't see a problem with the revenue.
Incidentally, I didn't just take my friend's word about the exchange rate (although I trust his judgement), I contacted Cahors tax office and they confirmed the rate of 0.9525, wch converts to 1.04etc.
May 16th 2009, 12:40 pm
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Re: Exchange rate for tax declaration
Hi again
For me the issue is consistency. I have always used Jan-Dec, but if you always use April to April, I can't see a problem with the revenue.
Incidentally, I didn't just take my friend's word about the exchange rate (although I trust his judgement), I contacted Cahors tax office and they confirmed the rate of 0.9525, wch converts to 1.04etc.
For me the issue is consistency. I have always used Jan-Dec, but if you always use April to April, I can't see a problem with the revenue.
Incidentally, I didn't just take my friend's word about the exchange rate (although I trust his judgement), I contacted Cahors tax office and they confirmed the rate of 0.9525, wch converts to 1.04etc.
