cooperlola Posted May 2, 2007 Share Posted May 2, 2007 I'm going to do this tax form myself this year. The o/h's pension is paid into a UK bank, so I realise that I'll have to do the currency conversion. However, mine is paid direct into the bank here, courtesy of my pension provider, and it is my only source of income. If I just added up all the payments received in '06, will that be acceptable as a total? Or should I add up the sterling amounts and do a conversion myself?Edit : it's not taxed in the UK before I get it. Link to comment Share on other sites More sharing options...
Benjamin Posted May 2, 2007 Share Posted May 2, 2007 [quote user="cooperlola"] If I just added up all the payments received in '06, will that be acceptable as a total? [/quote]Yes.[:D] Link to comment Share on other sites More sharing options...
cooperlola Posted May 2, 2007 Author Share Posted May 2, 2007 Wahay!! Thank you, kind sir.[:)] Link to comment Share on other sites More sharing options...
allanb Posted May 3, 2007 Share Posted May 3, 2007 [quote user="cooperlola"]The o/h's pension is paid into a UK bank, so I realise that I'll have to do the currency conversion. However, mine is paid direct into the bank here...[/quote]Same here. For my pension, I simply declare the total euros received - I don't see how anyone can argue with that. However, I add up the pounds as well, work out the average rate, and use that rate to convert my wife's pension.It hasn't been challenged; but then again, I don't know anyone who has actually been challenged on the exchange rate. Has anyone had to deal with this?My belief (but it's only a belief) is that the rate quoted by the tax office is a kind of default rate : if you use it it will be accepted, but if you have a logical reason to use a different rate there's no reason why you shouldn't. Link to comment Share on other sites More sharing options...
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