Average Exchange Rate for 2021

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poppy1
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Average Exchange Rate for 2021

Postby poppy1 » Tue Apr 12, 2022 12:25 am

Where can I find the average exchange rate for 2021 for Renta purposes?
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Enrique
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Re: Average Exchange Rate for 2021

Postby Enrique » Tue Apr 12, 2022 7:33 am

Hi poppy1,

"Where can I find the average exchange rate for 2021 for Renta purposes?............. in the FAQ faithfully maintained by El Cid

viewtopic.php?f=42&t=27576

From the FAQ

"Edit 4 Jan 2022. 2021 average exchange rate was 1.1636 "

You could also look on the ECB.............

https://sdw.ecb.europa.eu/quickview.do? ... EUR.SP00.A
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Re: Average Exchange Rate for 2021

Postby poppy1 » Wed Apr 13, 2022 1:29 am

Where would I be without you guys ?

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peteroldracer
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Re: Average Exchange Rate for 2021

Postby peteroldracer » Tue Jan 31, 2023 9:46 pm

And what for the 2022 return?
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Re: Average Exchange Rate for 2021

Postby El Cid » Tue Jan 31, 2023 11:45 pm

I will be using the rates from the ECB. It is 1.17266, so most people on GBP income will pay more tax this year.

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Re: Average Exchange Rate for 2021

Postby peteroldracer » Wed Feb 01, 2023 10:01 am

Thanks Sid - I found one site that said 1.1737, so that would be worse for me if I have got it right? Every penny counts these days...
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Re: Average Exchange Rate for 2021

Postby peteroldracer » Thu Feb 02, 2023 1:23 pm

Has there been (or is there expected) any changes in tax allowances for 2022?
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fyfin
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Re: Average Exchange Rate for 2021

Postby fyfin » Thu Feb 02, 2023 11:44 pm

I got the average rate from ECB of €1.1731
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Re: Average Exchange Rate for 2021

Postby El Cid » Fri Feb 03, 2023 11:33 am

A few decimal points here or there makes no difference. You only declare in Euros, so no one is going to ask you what exchange rate you use. Personally, I declare my pensions as the amount paid into my Spanish bank in Euros.

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Re: Average Exchange Rate for 2021

Postby peteroldracer » Fri Feb 03, 2023 11:50 am

My state pension is paid direct in Euros like yours Sid, as is my OH's Crown pension (the "Box 525" one), but I have a private pension and the OH's state pension both paid into UK bank in GBP. This means that I must convert these, and also the interest earned. I am going for 1.17. Do you know of any changes in allowances etc for 2022, or will the calculation be the same as 2021?
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Re: Average Exchange Rate for 2021

Postby El Cid » Fri Feb 03, 2023 12:43 pm

I have not seen any significant changes, but I think the lower incomes may get some changes.

My guess is that any positive changes will be offset by the higher exchange rate.

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Re: Average Exchange Rate for 2021

Postby fyfin » Fri Feb 03, 2023 5:24 pm

Anything that can be paid in euros is into our Spanish bank. Other annuities are in sterling so have to be converted.
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Re: Average Exchange Rate for 2021

Postby peteroldracer » Fri Feb 03, 2023 8:01 pm

Blevins are shouting about changes for the rich pensions - doesn't affect me then!
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