Helen1964

Am expecting my tax return to arrive any day now and am just wondering what exchange rate to use when declaring income received in the UK in 2015 in forms 2047 and 2042.
Do you normally include a little note to the tax people to let them know what rate you've used?

dmu

Good question!
I think it's been answered in the past, but it didn't concern me. I've only got my tiny UK Pension to declare, and last year (after I discovered that it had to be declared despite the fact that it was taxed in the UK), I wrote a letter, since it didn't need to be converted into €€.
The same letter gave details of my no-interest English bank account, and I've noticed that they haven't pre-printed this info on this year's Declaration form. I conclude that it has to be indicated every year.....
Good luck with the annual chore, but, if all goes to plan, Déclarations (of French earned income at least), should soon be a thing of the past!

Helen1964

Yes, as far as I know you have to provide a list of your foreign accounts every year.

InVinoVeritas

I think you'll have to contact your centre d'impots and ask them for "le taux moyen de change 2015" for GBP. It should be 1.38 or very near.

Im_and_Er

The only reason you need an average figure from your local impots is to see if it works in your favour, otherwise your income is what you received in Euros on the date you received it, simple really

It's not necessary to mention the exchange rate you have used and you can use whatever you can justify if challenged.

InVinoVeritas

Well, it's the way you are supposed to do it but, if you prefer, put whatever numbers you like on your declaration, the revolution is just round the corner, after all

dmu

This concerns UK Pensions or other income received in a French Bank in euros, but, on rereading #1, I noticed that the OP asked about income received in the UK.
A google search as per IVV's "Taux moyen..." gives 1.3768 on 8th May 2015. Out with the calculator!!

Im_and_Er

You can bet if you asked at two different tax offices in two departments you wouldn't get two answers the same

bigglesworth

I was just about to thank you for the "challenge" post I &E and then you ruined it.
We have had both. Used our own (actual) rates, and been told (by the Tresor and our accountants) that there is an official rate of conversion established each year and you have to use that.

grannybunz

You do and it posted every year on the Fisc's website ! No problems.

Helen1964

Can you tell me where exactly I can find this rate? And what it is for the 2015 declaration?
Many thanks.

I managed to find on the Banque de France website the actual rates on the 3 different days that my UK bank paid me interest in 2015 but if there is a single official rate somewhere on the Fisc site, so much the better.

TinaBee

For income received in the UK in £, you just need to convert the amount received into Euros using the relevant daily rate provided on the Banque de France website, i.e. the date the income was paid into your UK bank account.

If you prefer the average rate, I sometimes use the following message in an email to the tax office:

Messieurs

Je vous écris pour vous demander si vous avez décidé du taux de change pour l'année
fiscale 2015 de GB£ en euros.

Je vous prie d’agreer, Messieurs, mes salutations distinguees.

They normally reply pretty quickly

howiet01

Maybe I'm hijacking the thread.....apologies in advance!
We have just received the 2047 form as my wife works for a UK registered company here in France(so she is paid into her UK bank account).
She now has a french tax number(numero fiscal) so am I correct in thinking she needs to fill out the 2047 so she will stop paying tax in the UK(because of the dual taxation agreement)?

ps when I went to the tax office last year they seemed more than happy that she worked for a UK company and was living in France!

Nectarine

According to my accountan t the official exchange rate for 2015 is 1.32. Hope this helps.

cyrian

She can just declare income and tax paid in the UK on her french tax return.