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29/05/2008, 8:25 BobDee Joined on 17/08/2005 Reaup Lisse 47 Posts 118 Re: Exchange rate for Tax purposes allanb I have been around this forum long enough Allan to know what you say it absolutely right, but the point I was making is that the interest is added to your UK account and that stays in the UK. If in six months time you transfer that interest to your French bank account at a rate that is widely different from the rate that ruled when the interest was originally added, surely this latter  rate would be the correct one to use for tax purposes?    Report

29/05/2008, 9:02 Belle Joined on 05/03/2008 Posts 142 Re: Exchange rate for Tax purposes BD I have sent you a PM Belle    Report

29/05/2008, 9:10 Ron Avery Joined on 29/11/2004 Aveyron 12 Posts 3,393 Re: Exchange rate for Tax purposes If you were in the UK Bob and you had such an account, would you say the income was taxable:  a) when you received it into your account? or b) when you spent it? As its clearly a) your arguement falls at the first hurdle. That's it from me on tax for this year done mine now and forgetting all about it until September when the bills come in Why not post a sensible answer, people will appreciate it more    Report

29/05/2008, 10:25 allanb Joined on 04/09/2006 Posts 601 Re: Exchange rate for Tax purposes  BobDee wrote: ...the point I was making is that the interest is added to your UK account and that stays in the UK. If in six months time you transfer that interest to your French bank account at a rate that is widely different from the rate that ruled when the interest was originally added, surely this latter rate would be the correct one to use for tax purposes? I don't think so.  Laws are sometimes open to interpretation, but on that point the French tax code is pretty clear: in the case of a bank receipt, it refers to the date of the credit to your account, and this must mean the account to which the payer paid it. If you think about it, the alternative would be chaos.  Suppose you receive £500 interest in January, then a lottery win of £750 in April, then you transfer £300 to your euro account in September, then you realize it wasn't enough so you transfer another £600 the following February... And while all this is going on you received quarterly pension payments into the same account. You could go crazy.    Report

29/05/2008, 11:09 BobDee Joined on 17/08/2005 Reaup Lisse 47 Posts 118 Re: Exchange rate for Tax purposes Allan et al, Well that just makes using whatever the rate from the tax office (confirmed in writing of course), says , the one to use. I still think there is a modicum of sense in my argument, but then I always have been slightly crazy!! BobD     Report

02/06/2008, 22:24 ErnieY Joined on 05/12/2006 W of Cahors (46) Posts 4,156 Re: Exchange rate for Tax purposes A this year but for next perhaps..............Average rates Deliberately homed in on 2006 for nostalgia's sake, sorry if it upsets    My doctor said one drink per day, I can live with that !    Report

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France Forum » Legal and Finan... » French Finance » Re: Exchange rate for Tax purposes

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