Average Euro rate for renta declaration 2017
Average Euro rate for renta declaration 2017
I know it's early but I have been compiling information for my tax return and wondered if anyone had the rate to use for renta tax returns £/€. It's an a average of the rates during the year I believe. There's a different rate for asset declaration but I don't need that as no UK assets now.
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- Andalucia Guru
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Re: Average Euro rate for renta declaration 2017
£1 = €1,14068 (Source ECB)
Re: Average Euro rate for renta declaration 2017
Fantastic rapid response. Many thanks.
A man likes his wife to be just clever enough to appreciate his cleverness, and just stupid enough to admire it
Re: Average Euro rate for renta declaration 2017
Gerry Harris
Re: Average Euro rate for renta declaration 2017
Both pretty close so don't suppose it matters.
A man likes his wife to be just clever enough to appreciate his cleverness, and just stupid enough to admire it
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Re: Average Euro rate for renta declaration 2017
Since you do not have to declare what exchange rate you use, no, it doesn’t really matter. The figure of 1.1413 is the figure I got from the ECB interest rate figures average for 2017.
Sid
Sid
Re: Average Euro rate for renta declaration 2017
If you get a £ amount paid into your spanish account in euros does it matter which you declare.The original £ amount or the € amount that goes into your spanish bank. Is their a rule inregards to it
Re: Average Euro rate for renta declaration 2017
I don't declare a rate as my company pension, originating in £s from the UK, is paid into my Spanish bank in €s.
I declare the total amount received in €s as that is the actual income I receive.
Cheers
Gerry
I declare the total amount received in €s as that is the actual income I receive.
Cheers
Gerry
Gerry Harris
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Re: Average Euro rate for renta declaration 2017
There are no rules as such. Tax is a self declaration system and it is up to you to file the correct information. You just declare your income in Euros, how you arrive at that figure is up to you. The only circumstances where you would need to justify your calculations is in the very unlikely event that Hacienda challenged your declaration.
Sid
Sid
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Re: Average Euro rate for renta declaration 2017
My situation is slightly different because earnings from the UK never come to Spain so it's important to have a general rate, which is used to calculate how much tax needs to be paid.
Re: Average Euro rate for renta declaration 2017
I've just been into see my tax person early and she said 1.12, I should have asked her can I claim anything back from my mortgage payments, been paying since 2005,does anyone know if this is possible.
Re: Average Euro rate for renta declaration 2017
I went through all the money I drew out from the UK during 2017 and the exchange averaged out at 1.11 so I will use that. I have left it to my gestoria in the past and I now realise that the rate she used was probably higher than what I actually got on my money during the year.
Re: Average Euro rate for renta declaration 2017
If you were paid in GBPs then you should apply the official exchange rate , you cant use a rate that you received to exchanged your earnings later to bring them here because the earnings had already been paid in GBP .Wicksey wrote:I went through all the money I drew out from the UK during 2017 and the exchange averaged out at 1.11 so I will use that. I have left it to my gestoria in the past and I now realise that the rate she used was probably higher than what I actually got on my money during the year.
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Re: Average Euro rate for renta declaration 2017
For payments into your UK bank you can either use an average rate for the year or the actual rate on the day the payment was made.
In the case of the state pension, if it is paid in Euros direct to Spain then I would use the actual amounts received.
That said, no one is likely to check it and I cannot find any guidance to what you should use in any of the AEAT guidance or manuals.
Sid
In the case of the state pension, if it is paid in Euros direct to Spain then I would use the actual amounts received.
That said, no one is likely to check it and I cannot find any guidance to what you should use in any of the AEAT guidance or manuals.
Sid
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