Exchange rate for 2024 tax return

It’s clear that people can (and do) use different methods and/or have different understandings with their Tax Offices…

Provided that one is not seeking to deliberately offer fraudulent figures… one can rest easy… :+1:

I had a look online to see if I could find any “official” guidance, in particular for regions where there are large numbers of frontaliers presumably grappling with exchange rate issues. The prefecture in Haute Savoie, alongside Switzerland, advises taxpayers who are frontaliers, as follows…(paraphrasing) " notwithstanding the strict rule that income should be converted at the rate on the day of receipt, out of practicality, use of an annual average is tolerated, except for exceptional income eg stock options, lump sums from pensions etc."

There is no reason to think that this pragmatic approach wouldn’t be acceptable in other parts of France…

Mine too, as long as you are not defrauding them, seems ok.

The problem is that the amount transferred does not always correlate with the amount received.

Indeed. But as I explained earlier, my income generated in the UK is never received in France.
It stays in the UK in sterling.
I still have to report it in France, though (UK rental income).

If I had regular amounts coming to France, I’d probably find it easier to just total up the actual amounts received. And also that way if there was ever any query, it would be instantly clear to the Fisc that the sums declared perfectly matched the sums received.

I don’t understand. Sure it will be different due to the exchange rate. But it is the €uro amount that you need.
e.g. £10 transferred today and you get 11.68€, and that is the amount you record.

The £10 won’t be transferred in my case. Not today. Not tomorrow. Not ever. So it never actually gets converted into a € amount.
But I need to do a notional conversion for the purposes of the French tax return.

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In which case, the average figure for 2023 (as per the Connexion for example) will do just fine. :+1:

Exactly. I need a lie down now.

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,Most years, the amount l transfer is not the same as my income.

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Can I ask what the explanation is? Or do I need to buy the guide?

I’d prefer it if you bought the guide. It’s only €15 and full of information.

Thanks. I’ve done that.

Great. Do you see the explanation? Think it’s on page 24.