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Posted Thu, 05 Jan 2023 13:18:51 GMT by Sarah
My monthly foreign income is very low (too low to be taxable) but needs to be included in the SA. The monthly exchange rates provided by HMRC don't seem to be provided in one table per country but per month instead which is a little inconvenient. Because of the low values involved, could I just use the average rate for the year for the total year's foreign income to save time?
Posted Wed, 11 Jan 2023 12:11:24 GMT by
Hi Sarah Thi,

HMRC provides 3 different ways in which you can exchange from a currency of the world, to pounds sterling.

 The monthly rate, the annual average rate and the spot rate.  You are free to use any of these rates to convert to pounds sterling

.HMRC yearly average and spot rates

Thank you. 

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