Official rate GBP to Euro for 2018?

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peteroldracer
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Official rate GBP to Euro for 2018?

Postby peteroldracer » Tue May 07, 2019 12:23 pm

Does anyone know what the official exchange rate is to be used for the 2018 tax return please? One pension paid in sterling needs converting.
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gerryh
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Re: Official rate GBP to Euro for 2018?

Postby gerryh » Tue May 07, 2019 12:48 pm

That is the sort of information that should be included in a FAQ.
Hang on it is at the bottom of the page :thumbup:
viewtopic.php?f=42&t=27576
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peteroldracer
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Re: Official rate GBP to Euro for 2018?

Postby peteroldracer » Tue May 07, 2019 12:57 pm

Thanks Gerry. Sadly the new allowances don’t affect me, or indeed the OH.
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marios
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Re: Official rate GBP to Euro for 2018?

Postby marios » Wed May 08, 2019 10:30 am

Gerry,

I saw this on your link-If your income is less than €12000 you do not need to declare unless you have more than one source of income and the second and subsequent incomes exceed €1500. Two pensions would count as two sources of income even though you would add them together on your declaration.

So my wife for 2018 had £9891 (11077 Euros)income from one pension source, does this need to be declared?.

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Re: Official rate GBP to Euro for 2018?

Postby El Cid » Wed May 08, 2019 10:58 am

You should make a declaration every year, even if it is zero tax. Doing so makes sure you are always registered as tax resident. This is less important for Spanish nationals as they are, by definition, tax resident from birth unless they prove otherwise.

Failure to do so may lead to complications when you sell a house or where inheritances are involved.

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marios
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Re: Official rate GBP to Euro for 2018?

Postby marios » Wed May 08, 2019 11:18 am

Sorry yes I know about the declaration, last yr it was over €12,000 I'm still declaring the 11077 euros so it doesn't attract any tax then?.

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gerryh
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Re: Official rate GBP to Euro for 2018?

Postby gerryh » Wed May 08, 2019 12:34 pm

Another reason for declaring is if you have any interest from investments.
The interest is taxed at source.
If you are below the tax threshold then you will get the tax you paid on the interest refunded.
My wife will get a 3 cents refund. :think:
As you know the interest rates on savings are very low.
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Re: Official rate GBP to Euro for 2018?

Postby marios » Wed May 08, 2019 1:01 pm

Thanks Gerry


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