Useful step-by-step guide to declaring taxes online.

Mrs Archy
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Re: Useful step-by-step guide to declaring taxes online.

Post by Mrs Archy »

oops
Last edited by Mrs Archy on Tue Apr 28, 2020 1:06 pm, edited 1 time in total.
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Re: Useful step-by-step guide to declaring taxes online.

Post by Spardo »

Is that figure of 1.14 to the pound official this year, or just the example? It probably isn't far from what I would calculate using my own, never challenged, formula, but just wondering.

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Re: Useful step-by-step guide to declaring taxes online.

Post by whyme? »

Spardo wrote:
Tue Apr 28, 2020 11:01 am
Is that figure of 1.14 to the pound official this year, or just the example? It probably isn't far from what I would calculate using my own, never challenged, formula, but just wondering.
If the figure of 1.14 is the LIBOR rate, do folk actually use this this when the true exchange rate for us ordinary folk is less?
We use Global Reach for currency exchange, receive one centime less than the LIBOR rate & use this figure as the real exchange rate to us.

Mrs Archy
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Re: Useful step-by-step guide to declaring taxes online.

Post by Mrs Archy »

Spardo wrote:
Tue Apr 28, 2020 11:01 am
Is that figure of 1.14 to the pound official this year, or just the example? It probably isn't far from what I would calculate using my own, never challenged, formula, but just wondering.
I'm not using that rate this year (sometimes I do) as over the year my exchange works out at less than 1.14!
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Re: Useful step-by-step guide to declaring taxes online.

Post by Spardo »

I haven't worked mine out yet, no point till I come to complete the form, but I will use the method I have always done. I understand that this does not necessarily arrive at a conclusion reached by the powers that be, but, as I said, it has never been challenged.

All our UK income remains in our UK bank until such time as I transfer to our French one. The sum of the actual rates obtained each time produces the figure I use. I know it is supposed to be the point at which we receive the money in our UK banks, but to me seems a fair thing to calculate when it arrives in our French one.

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Re: Useful step-by-step guide to declaring taxes online.

Post by elsie »

Spardo: Does that mean if you didn't transfer any money to France (or all the income you recieved in a year) you wouldn't declare it as part of your world-wide annual income?

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Re: Useful step-by-step guide to declaring taxes online.

Post by Harvest »

Thank you so much....easy when you are shown how....thank you.

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Re: Useful step-by-step guide to declaring taxes online.

Post by Mrs Archy »

I thought I'd post this as I find it useful as a yearly update as well as BH Assurance.

https://www.cabinetgregory.com/FRincTax.htm
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Re: Useful step-by-step guide to declaring taxes online.

Post by Spardo »

elsie wrote:
Tue Apr 28, 2020 2:19 pm
Spardo: Does that mean if you didn't transfer any money to France (or all the income you recieved in a year) you wouldn't declare it as part of your world-wide annual income?
No, because I do declare all our UK pensions, transfered or not. My method is merely a way of calculating the value of them for declaration purposes.

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