Skip to main content

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

Posted Sat, 04 May 2024 15:03:33 GMT by Patsy
When paid in US Dollars do I need to convert each payment into Sterling when received or do I do it monthly /annually using the HMRC currency monthly/annual average exchange rates? If I'm allowed to do it annually could I use the annual average published in March to complete 24/25 tax year figures even though that would cover 1st April to 31st March rather than the actual tax year. For example for tax year 24/25 could I use the March 25 figures even though that wouldn't technically cover 1/4/25 to 5/4/25?
Posted Mon, 13 May 2024 13:08:08 GMT by HMRC Admin 32
Hi,

Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal.  
For your convenience, there are exchange rates at:

The National Archives: Exchange rates from HMRC in CSV and XML format

For older rates at:

The National Archives: Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009

You are free to use any of the supplied rates or one of your own choosing.

Thank you.

You must be signed in to post in this forum.