Can anyone tell me the official Sterling to Euro exchange rate to be used on the French tax forms to be completed in 2025 for 2024 income? Thanks.
The average rate for the year is £1 = €0.84915
I always ask the impôts in the messagerie. Best to get it from the horse’s mouth.
I don’t think so 
I think that’s the wrong way round …
1.176
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@larkswood12 has previously (helpfully) posted about a practical exchange rate methodology proposed by tax inspectors. You take the Banque de France (BdF) exchange rate at or around the previous calendar year end, and the BdF exchange rate at or around the actual tax year end, then average the two.
The rate at 31.12.23 was £1:€1.1506
The rate at 31.12.24 was £1:€1.2049
That would give an average of €1.17775 for calendar 2024 for regular recurring income. For one offs like pension lump sums, sale of properties, the spot (or actual) rate should be used.
Obviously there are a variety of different methods available, some proposed by individual tax offices, others by magazines etc.
The difference between the rates at the beginning and end of the year are startling!
I always keep a detailed account of my transfers during the year and then work out the actual rate for the whole year. It has never been challenged and, if it was, I have detailed proof, to several decimal places, of the rate received.
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I do similar. As we both have UK based pension income then it gets transferred via Revolut to our French account for my pension and directly to our French account for the OHs university pension. We just add them up in Euros and use those values. It seems the logical thing to do and as @David_Spardo says, you have a cast iron record of the amounts n GBP and Euro.
That only works for people who transfer all of their U.K. income immediately as it is the average rate for the year that matters not the average an individual paid for their euros.
That gives the mean for the difference between the start level and the end level over twelve months and is surprisingly close to the figure given by CaptainMorgan. Other figures using more data like the average of the daily rates or monthly averages would give an even more accurate figure. It would be interesting to know the source of Captain Morgan’s figure, as it was posted on the same day as the Connexion published their’s I guessed it would be that.
At the end of the day the tax office seem to accept a range of figures but it’s wise to be able to justify the one you use if questioned.
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Found it on Connection after the initial post.
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Not always to be believed.
Agreed!
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That may be so but I do check my reported figures with the various others we read about at this time of year and they are surprisingly accurate. If anything I do slightly over report my income and am happy to do so knowing that nothing will come back to bite me later. Also in the knowledge that my income has never exceeded the level which would trigger taxation.
However, that may or may not change this year, the first year since my wife died, and it might be that my income alone might trigger that figure for one person alone. I will see, but better to be slightly above than slightly below, I never forget my guest status in this country and am grateful for its advantages. I should mention that a small mistake, twice made last year by the UK tax people, revealed that my income tax there would be £100 per month if I were still resident there.
I think I will be in the same boat David. Added up all my income for last year and it comes to just over the threshold for the new tax bracket of 11% I think it is. Never paid anything before but this is manageable in one payment although I have not allowed for any age discount which may cancel it out.
Quelles sont les tranches d’imposition 2025 ?
- entre 11 498 € et 29 315 €, le taux est de 11 %.
- entre 29 316 € et 83 823 €, le taux est de 30 %.
- entre 83 824 € et 180 294 €, le taux est de 41 %.
- Au-dessus de 180 294 €, le taux d’imposition est de 45 %.
My point is your whole income is taxed. For a lot of people that is not the same as the amount of pounds that they convert into euros. This year I am converting more pounds to euros than normal. At least half of that money is money that I have already paid tax on the fact that I’m moving it to my French account will not mean that it will have to be reported as income. The exchange rate I get for my euros and the average needed for the tax return are two separate things.
If you would be taxed at £100 per month in the UK, that suggests an income of just under £19000, assuming a standard 1270L tax code. Is that not above the zero tax threshold in France? Not that I want to pry into your financial affairs so feel free to ignore me.
Not disputing the figures but this mistake was made while my wife was still alive and is what I referred to earlier when I said that as a widower and thus unmarried, I might have moved into the French tax bracket.
This remains to be seen.
@David_M_Matthews Yes I realise that but I have checked each time and as I said any error comes down slightly on the side of the taxman, a situation that I am comfortable with because it alleviates me from having to chose between the various figures put forward each year in threads such as this. Also I am aware that reported advice from different tax offices to people who enquire do not always agree.