Skip to main content

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

Exchange Rates for Foreign Interest Income

Answer
Posted Tue, 02 Jan 2024 01:01:54 GMT by
I earned interest interest in HKD for Apr 2022 - Mar 2023. Which method below is correct to convert the income into GBP? Method 1: Apr-Dec 2022: use average exchange rate published on 31 Dec 2022 Jan-Mar 2023: use average exchange rate published on 31 Mar 2023 Method 2: Apr 2022 - Mar 2023: use average exchange rate published on 31 Mar 2023 Thank you.
HMRC Admin 5 Response
Posted Wed, 10 Jan 2024 10:03:31 GMT by HMRC Admin 5 Response
Hi

You can use any of the rates for the tax year 06/4/22-05/04/23.

Thank you
Answer
Posted Wed, 10 Jan 2024 10:11:56 GMT by
Do you mean I can use either rates published on 31 Dec 2022 or 31 Mar 2023? Thank you
HMRC Admin 10 Response
Posted Tue, 16 Jan 2024 11:54:12 GMT by HMRC Admin 10 Response
Hi
That is correct.

You must be signed in to post in this forum.