Sterling exchange rate for 2016 income

Income tax declarations are coming up again (for income received in 2016) and as usual those with foreign income will need to convert it into euros so as to declare it to the French authorities.

Strictly speaking, this should be done at the rate on the day when sums were banked, however France tolerates use of an average rate for the year. The Economy Ministry recommends for this purpose taking an average of the Banque de France’s end of month rates for December 2015 and December 2016, which gives a result of

£0.7951 to €1

or

€1.2578 to £1

Income declaration help:
Connexion has published its annual guide to completing your French tax forms. It costs €12.50 (+P&P for printed copies), either in hard copy by post, or as a PDF. You can order the guide here.