Online tax return is open

[manonthemoon2]

Thanks Elsie

[Loup-garou]

Is there a figure to multiply amounts in £s by this year that is an approved average for 2023?

Haven't seen any mention of it in these 12 pages but I usually get it from this thread each year (I think ).

Ta muchly.

[elsie]

The official answer is the rate on the day you received the money. From https://www.impots.gouv.fr/particulier/ ... -letranger
Lorsque les revenus ont été encaissés en monnaie d’un État extérieur à la zone euro, ils doivent être convertis en euros d’après le cours de l’euro à la date de l'encaissement.
You can find the official rates on this page https://www.ecb.europa.eu/stats/policy_ ... ml/gbp.xml
I edit that XML file, import it into a spreadsheet and use a LOOKUP function.

In the BH Assurances May newsletter from Isabelle Want (see also the link above to her guide):
The exchange rate for 2023 is 1.15 (that is the average of last year). You can get another rate from your local tax office, use theirs if it is lower than 1.15! Note that when you ask the official Paris tax office they tell you to use the rate from the “banque de France” on the day you got paid! Or use the average of the year.

[suein56]

Or use the average of the year.

I do that .. beginning January to end of December .. came out as 1.1395 according to ECB - the European Central Bank but as long as you can justify your rate (if ever you are asked) then use it.

[Loup-garou]

Thank you for the quick replies. Can't really put it off any longer!

[Doug]

Going by the length of the queue at the local Bergerac tax office yesterday there's a good many French who have problems.
Took two hours to get inside to sort out our small problem.

[Veem]

I am even later to this party than in previous years. Though I can lay the blame partly at the door of a poorly horse and a husband who has spent a couple of days in hospital lately, I have been putting off getting started on the tax return because I have a very tricky situation that I don't know how to overcome.

In June '23 I sold a house which I bought in 1991 and rented out since 1997. It yielded zero rental income in 2023. I have paid CGT on the sale to HMRC.

My question is how do I unravel the French tax return to remove this house from the records? I feel sure I must have to declare the sale and tax paid, but where? So many boxes seem to be of some relevance but I'm totally unsure which to fill in.

For instance:

DIVERS

Revenus de source étrangère, ouvrant droit à un crédit d'impôt égal à l'impôt étranger = Income from foreign sources, giving entitlement to a tax credit equal to the foreign tax :

8VM 8WM - impôt payé à l'étranger sur revenus de capitaux mobiliers et plus-values = tax paid abroad on income from transferable securities and capital gains.

8VL - - impôt payé à l'étranger sur autres revenus = tax paid abroad on income from transferable securities and capital gains

Am I getting warm? As ever, I shall be exceedingly grateful for any expert advice.

[elsie]

Veem, If you can, I think you should go and talk to the tax office with documentation on how long you owned the property, rental details, UK CGT paid, etc. and get their help. They will be able to work out whether any French CGT and social charges are due (there are various discounts for time of ownership, etc).

[Veem]

Thank you elsie, but I can't see that as a possibility,

Has anyone else been in this same situation? Please?

[Doug]

Thank you elsie, but I can't see that as a possibility,

Has anyone else been in this same situation? Please?

Yes been there and as elsie has said we went to our local tax office, they sorted it out in no time, best way to do it.