720 time

[Tetley]

if anybody's wants a guide as to the 2023 average conversion rate for the 2023  tax return (not the 720 )

ive worked it out at  1.148864 so 1.15 

but check with you advisors  

[Tetley]

im spending mine ,getting ready for care home asset strip .....

im certainly pleased i under achieved, because they don't leave yer wi much in the uk.... once it all cranks in 

i was even thinking about buying an electric car .....

but thankfully my Mrs woke me up with a cup of tea and a biscuit so im ok again    with 50 mpg 23 year old  mondeo

[shadeseeker]

Thanks Oats Nd Tetley

[Tetley]

you would need to check with your advisors ,

if i open or close an account  within  the tax year i amend the 720 ie keep it current ,(under 20k any amount )

also for anybody high nett worth watch the currency exchange rates as it can increase 20k over the 12 month ie £ invested euro exchange.

I keeping it up to date ,its  a pain in the arse .....
(but council tax is 8 quid a week and lidl beers a quid a pint and the sun shines most of the time , so i struggle on  )

but the up side is the  government do have your nett worth at the click of a button ,

(should the spanish /eu  politics ever change and the tie becomes harder to renew ..... bearing in mind we don't not what future crazy's were going to get running the uk or eu political asylums that could effect us here directly )

[Oats]

As far as I am aware you only have to submit another Modelo 720 if your assets increase by 20K or more since your last declaration.

[shadeseeker]

How often does the 720 declaration  have to be done. I  thought you only did it if your assets  changed by more than €20,000 up or down. Can anyone clarify  this please.

[Johnny73]

💥

[Tetley]

if anybody needs the conversion ECB Rate to £ its

.86905 or 1.1506817

as per the last banking day 29 December 2023 

happy accounting  

[Tetley]

typo its 1 jan to 31 march .

[Tetley]

if we have any new arrivals ,that don't know with assets outside of spain ,1 jan to end of april is asset declaration time all the info is on the nett .
https://taxadora.com/modelo-720-declaring-foreign-assets/?gclid=EAIaIQobChMIzofvqNGRgwMVNY9QBh2WPgPAEAAYASAAEgLEDPD_BwE