which exchange rate should be used

Hi, I have received interest income from foreign bank in June, Aug, Oct 2022 and Dec 2022, can I use the following exchange rate methods when I convert foreign income to GPB 1. exchange rate of June for income received in June 2022; 2.yearly average exchange rate for income received in Aug 2022; 3.spot rate of Dec 2022/Mar 2023 for income received in Oct 2022; 4.exchange rate of Sept for income received in Dec 2022. For the source of exchange rate, do I only allowed to use the exchange rate provided from HMRC or I can use the other sources e.g. bank statement, BOE etc Thanks for your time and reply

Hi pigwai chau,
You can use any of the rates that fall within the 22/23 tax year - 06/4/22-5/4/23.
HMRC is the approved rate to use.
Thank you. 

Hi HMRC Admin 25, Following the above advice, does that imply we can pick the exchange rate within the tax year which is the most favourable to the taxpayer (i.e. the lowest GBP rate to foreign currency during the tax year)? Thanks.

Hi Je77 Jones

Yes you can.

Thank you

Hey Admins, quick clarification for the above - does this mean say for the purpose of calculating CGT, I can choose minimum or maximum exchange rate for that year in which the transaction happened whichever is optimal for me?