Currency conversion, fees and the taxable amount.

There is something that is not quite clear to me in terms of the taxation (for an LTD). If the company trades worldwide, there might be some cases when it would be paid in the currency other than GBP. There are potentially 2 scenarios then: a) If the company has an account supporting such "other" currency, let's say USD, that is received as is. b) If the company only holds a GBP account, then incoming currency gets converted using some exchange rate bank uses. In both cases there might also be a fee applied to the incoming transaction. The question is this - from the reporting perspective I believe it would be expected that the amount of money you have been paid matches what the "remote party" (one that pays you) has sent. However, from the taxation perspective that amount might not match what you have actually got - in case (b) the conversion rate and the fees apply, and in case (a) it also might be some fee. So what exactly should be considered the amount that is taxable and should be paid to HMRC? And how the discrepancy between the receipt and amount actually received is supposed to be handled? To simplify, let's say someone pays you 10 USD (and the receipt produced states exactly that), In case (a) you are getting 9,80 USD because the bank takes the transaction fee. Or in case (b) the bank converts that to 7.6 GBP and then also takes 10p for the processing, leaving you with 7.5 GBP. What are you supposed to report to HMRC at the end of the day as the taxable amount in both cases (and also in case a you would still have to convert to GBP presumably)? Just want to make sure the nuances of reporting and paperwork are clear when it comes to corporation taxes. Thanks.

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