What use is a P60 to support a tax return Bob? Apart from being totally unnecessary, they will contact you if they want proof, it only gives the totals for the UK tax year March - April.
The mean average rate for 2007 calculated from the bank exchange rates, which is probably not what you actually got, was 1.45€ so if 1.42€ is being given as the official figure that is lower. At the start of the year it was 1.50€ going down to 1.38€.
Ernie, its the rate prevailing at the time you received your income whether that was in £, $ or yen. How you calculate what you declare is for your conscience.
Why not post a sensible answer, people will appreciate it more
Nell wrote:1.3636 is what the French News newspaper said, so that is what I have used
But that figure was for calculating the value of your goods and chattels for the Impot sur la Solidarité de la Fortune ie ISF or wealth tax which is worked on 1st January with the exchange rate value for that day.
Sue
"1.3636 is what the French News newspaper said, so that is what I have used"
IF that is what it says, it just goes to show what a load of c**p that paper is then. You know its wrong unless you got all your income in December 2007.
If you got income throughout the year, using an average rate below 1.42 is taking the piss and you know it
Ron Avery wrote:Ernie, its the rate prevailing at the time you received your income whether that was in £, $ or yen. How you calculate what you declare is for your conscience.
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