# Exchange rate for 2015 tax declaration



## Alcalaina (Aug 6, 2010)

Does anyone know the official rate of exchange between GBP and euro (as at 31 Dec 2015) for doing this year's IRPF exercise? All my income is in sterling...


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## AllHeart (Nov 22, 2013)

Here it is:

https://www.boe.es/boe/dias/2016/01/05/pdfs/BOE-A-2016-114.pdf


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## CapnBilly (Jun 7, 2011)

Personally I don't use the end of year rate, I use an average rate for the year. However, if you want to use the rate for the 31st December 2015 it's this one, not the one that was posted.

http://www.boe.es/boe/dias/2016/01/05/pdfs/BOE-A-2016-113.pdf


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## The Skipper (Nov 26, 2014)

Alcalaina said:


> Does anyone know the official rate of exchange between GBP and euro (as at 31 Dec 2015) for doing this year's IRPF exercise? All my income is in sterling...


All of my income is also in Sterling. This is a quote from my accountant received by email yesterday with a copy of my 2015 tax return: "The main reason for the higher Tax bill is the exchange rate which the average for 2015 was 1,34950."


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## AllHeart (Nov 22, 2013)

Thanks for posting the correct one, and I'm sorry for posting the wrong one. I have to correct that in another thread.


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## Campesina (Dec 17, 2011)

For IRPF you have to use the average rate for 2015 which is €1,3777 = £1 or £0.72584 = €1

You can find the average rate for 2015 plus historical average rates here:

ECB reference exchange rate, UK pound sterling/Euro

The rate on 31st December is the one used for the 720 declaration only.


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## CapnBilly (Jun 7, 2011)

€1.3777 is the rate I advise people to use.


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## Alcalaina (Aug 6, 2010)

Thanks all. I like 1,349 better than 1,377... I´ll get the gestor to check it when he goes to the AT for me.


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## CapnBilly (Jun 7, 2011)

You can use any rate you like because it's a self assessment, but if you get checked then you may or may not have to justify why you used the rate you did. So, an example may be that this was the rate of exchange on the day you received the funds (or an average of rates you received when you exchanged the funds).


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## Alcalaina (Aug 6, 2010)

CapnBilly said:


> You can use any rate you like because it's a self assessment, but if you get checked then you may or may not have to justify why you used the rate you did. So, an example may be that this was the rate of exchange on the day you received the funds (or an average of rates you received when you exchanged the funds).


OK, I understand now, thanks.


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