Exchange rate for this year's tax return, svps

[menthe]

Somebody please say what rate, before I convert everything to euros.

I like just to check what other people are using....

[Judith]

I used 1.15, as advised by my financial advisor, who by chance, I talked to last week.

[fittersmate]

I am using 1.139 (taking Banque de France average between 1 Jan 2023 and 31 December 2023).

[ssomon]

I use a spreadsheet to arrive at the figures for our tax return, so it is fairly simple to change the rates for foreign exchanges. All our UK income stays there, so I have no actual figures to use.

This year I made one calculation at a £ to € rate of 1.138 and another using the daily rates from www.exchangerates.org.uk , which is quite compact to print out.

I always keep a copy and a note of the source for my figures, in case of any dispute.

The  amount of tax payable was slightly lower using the daily rates, and more importantly, just below the next tax band applying to us, so I used those results for our return.

This also has the advantage of probably being a more acceptable source than second hand information that is available.

Edited April 27 by ssomon

[NormanH]

For the first time in 25 years I have been asked to prove that I have paid tax on my Teachers' pension.

This is taxed at source in the UK  but taken into account for  the band in which my OAP (which IS taxable in France ) comes.

Until now the Teachers' was simply entered on the 2047 and a carried across to 8TI on the 2042.

I did the same this year and have had a phone call asking for proof that I have actually paid the tax, followed by a message in the secure messaging of les Impots asking the same thing. I have sent my p60  explaining that  that is what we receive as proof

[DaveLister]

Sounds like they're taking a closer look at 'foreign income'. Fingers crossed the P60 will be sufficient for you Norman.

[menthe]

On 27/04/2024 at 10:50, fittersmate said:

I am using 1.139 (taking Banque de France average between 1 Jan 2023 and 31 December 2023).

Fittersmate, DL said to look in Connexion.  It's not a source I normally use and it was the first time I'd ever accessed Connexion on line.  They also said 1.139

[Gardian]

2 hours ago, DaveLister said:

Sounds like they're taking a closer look at 'foreign income'. Fingers crossed the P60 will be sufficient for you Norman.

Well yes, but they’d really do better looking very, very closely at many French citizens and their declarations.

I strongly suspect that most expats are almost paranoid about making honest and accurate statements of their incomes.  Add to that the annual debate about whether the exchange rate is this or that (rarely enough to make very much difference) and you conclude that there are plenty of other fish to fry out there !

We, like Norman, do at least have documentary proof to support our declarations.

[Lehaut]

14 hours ago, NormanH said:

This is taxed at source in the UK  but taken into account for  the band in which my OAP (which IS taxable in France ) comes.

I have the same potential question over my military pension, similarly taxed at source.  I have the P60 too.  Just to clarify, you declare the income before tax?  As far as I know there is no method to declare in France how much tax you have paid in the UK.

[NormanH]

6 hours ago, Lehaut said:

I have the same potential question over my military pension, similarly taxed at source.  I have the P60 too.  Just to clarify, you declare the income before tax?  As far as I know there is no method to declare in France how much tax you have paid in the UK.

In my   case I have a P60 issued by the Teacher's Pension Agency which shows both the  gross and net figures. If you have something similar from the Military Pension you could try that. I gave the gross figure on my original declaration

 

Edited April 30 by NormanH
added detail

[NormanH]

They are  now also demanding the details of the SI... I sent a copy of that but they want the Attestation de Droits of the Sécu

[DaveLister]

4 hours ago, NormanH said:

They are  now also demanding the details of the SI... I sent a copy of that but they want the Attestation de Droits of the Sécu

I wonder why you are now coming up on their radar.

[menthe]

22 hours ago, Gardian said:

Well yes, but they’d really do better looking very, very closely at many French citizens and their declarations.

I strongly suspect that most expats are almost paranoid about making honest and accurate statements of their incomes.  Add to that the annual debate about whether the exchange rate is this or that (rarely enough to make very much difference) and you conclude that there are plenty of other fish to fry out there !

We, like Norman, do at least have documentary proof to support our declarations.

There you are, Gardian, they ARE looking at Norman, who is a French citizen, "very, very" closely, non?

[Gardian]

Well maybe, but I suspect that this is a mix of the Tax Inspectors being told to ‘ask a few questions’ and it being early on in the declaration timetable - they won’t have much time later on.

It’s useful information though - if any of us is in any doubt about the numbers we’re submitting and / or whether we have the evidence to back them up, better to be prepared.

I rather doubt that anybody is going to be badly beaten up over a small under-declaration, but a question asked always focuses the minds !

[menthe]

Good thinking, Gardian.  So there IS justification for me being just in time every year.....and that is no matter how early I start the blasted return.

[Judith]

Just completed mine today .. but my excuse is that next week is busy with birhdays and then we go on holiday and won't be back until it is too  late!!😉

[Gardian]

😇

[betise]

We did ours yesterday too, I dread it, it always ends in an argument!

Mr Betise has (nearly) all of the figures on a spreadsheet on his computer, and I sit at mine and input them into the impots online forms.  He shouts a figure at me, I tell him it's not the one I need, he then can't find the right one, I start to quietly despair. Eventually there is more heated shouting (not by me) and I tell him that if he's going to shout he can put the bloody figures in himself. Every year (sigh).

Edited Thursday at 10:19 by betise
clarity

[Lori]

2 hours ago, betise said:

Eventually there is more heated shouting (not by me) and I tell him that if he's going to shout he can put the bloody figures in himself. Every year (sigh).

Wedded bliss.  😉

I'm sorry, you really did make me laugh as I can so relate.  It certainly isn't funny at the time, but I chuckled when I read that comment as it can be very similar round here.

[menthe]

Nobody shouts around here but I grumble and complain and fret but, for some reason, this year I am calm and laid-back and apart from looking up some bank statements, have yet to complete anything online.

May is a month full of activity chez nous.  Both our birthdays (on separate days) to celebrate, the village's fête patronale lasting a long weekend, of course all the May holidays and no muguets to be seen in our flower beds this year so can't give out bouquets to anyone.

Then there will be the ceremony at the monument aux morts and then the religious ones later in the month.  You'd think the impots would realise they are really pressuring us unfairly?

[Judith]

Apart from getting all the figures I need from OH, I long ago gave up getting him involved - it's much safer that way!