Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Tue, 29 Aug 2023 08:16:30 GMT by liukluke
Hi, I'm a sole trader, resident in the Uk, and I'm used to working with Spanish companies. I noticed that my English bank has very high commissions on the exchange rate between euro and pounds. Would it be possible to open a foreign account and then deal with the exchange rate myself, through platforms such as wise, etc.?
Posted Mon, 04 Sep 2023 10:50:13 GMT by HMRC Admin 32

Yes, you can do this but must still declare your income in sterling for your tax return.

Thank you.

You must be signed in to post in this forum.