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EXchange Rate

terrywykwong kwong
Posted Mon, 03 Jun 2024 20:22:16 GMT by terrywykwong kwong
Dear HMRC, I have US bonds interest income over last taxable year"2023/2024", and the interest recieved every month in USD and it is not yet to convert to GBP.I know I have to use a HMRC official approvalexchange rate found in website. My question is: Can I use any of the monthly rate which is in favour of my taxable income? Or Do I need to use the monthly rate of Mar 2024 as it is close to 5 April 2024? Or Do I need to use the yearly average rate of 2023? Thx
HMRC Admin 20 Response
Posted Wed, 05 Jun 2024 15:54:26 GMT by HMRC Admin 20 Response
Hi 
You can use any of the rates as long as they fall within the 23/24 tax year of 06/04/23-05/04/24.
Thank you.

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