wise.com tax liability

Hello, I am British, resident in UK, working from the UK, liable for tax in the UK. I have customers in the EU who pay me in euros via my wise.com account (which says on their website it is based in the UK, but my invoices state an address in Brussels as this is the address it gives you on the wise.com website). I then transfer this money to GBP into my UK bank account. I have three questions. 1. When I transfer the money into the UK GBP bank account, I write down that amount in GBP and declare that for my self-assessment. Is this correct? 2. If I leave the euros in the wise.com account and go on holiday to an EU country, and use the euros with my wise.com card there, it never comes to the UK, so how do I declare tax on this? What amount do I use? 3. Due to the wise.com account having a Brussels address, am I liable for tax in Belgium? Thanks

Hi Sassp,

As you are resident and domiciled in the United Kingdom, you are taxable on your world-wide income, in the UK.  
To covert your foreign income into pounds sterling, you can use the published exchange rate on the day of receipt.  
These rates tend to be found in national newspapers.  Alternatively, HMRC provides 3 rates (monthly, annual and spot rate) at:-
Exchange rates from HMRC in CSV and XML format
You are free to choose whichever you prefer or gives the best exchange.  
You should not use the exchange rate when converting into UK currency when transferring into your UK bank account, as this rate will differ from the official rates and the loss or gain from this conversion has to be met by you.  
Even if you retain some of your income in foreign currency, in a foreign bank acccount, for any reason, this should still be declared using the methods above, as this is still world-wide income and is still subject to income tax.

Thank you.