top cx logo
cx logo
Explorearrow down
search icon
Explore
arrow down

2020 French tax declaration: Sterling exchange rate

Exchange rate for income in pounds

The new tax-at-source system launched in France last year but the vast majority of people still need to make an income declaration this spring, with any foreign currency income converted into euros.

Strictly speaking, you should use the Banque de France rate on the day the income was banked to do the conversion.

However, if you receive regular amounts of foreign currency, the tax authorities tolerate the use of an average.

The Finance Ministry told Connexion a suit-able method is to take an average of the last rate of the year and the last one of the preceding year.

For the year 2019, this gives a rate of :

£1 = €1.1466

For information on how to declare different kinds of income in your 2020 declaration of 2019 income, see our annual French Income Tax Guide, published on March 26.

Order by midnight March 22 at our website here to pay the reduced price of €12.50 (plus p&p). From March 23, it will cost €14.50 (plus p&p).

Resident or second-home owner in France?
Benefit from our daily digest of headlines and how-to's to help you make the most of life in France
By joining the newsletter, you agree to our Terms & Conditions and Privacy Policy
See more popular articles
The Connexion Help Guides
featured helpguide
Healthcare in France*
Featured Help Guide
- Understand the French healthcare system, how you access it and how you are reimbursed - Useful if you are new to the French healthcare system or want a more in-depth understanding - Reader question and answer section Aimed at non-French nationals living here, the guide gives an overview of what you are (and are not) covered for. There is also information for second-home owners and regular visitors.
Get news, views and information from France
You have 2 free subscriber articles left
Subscribe now to read unlimited articles and exclusive content
Already a subscriber? Log in now