ChrisJames

Hi HMRC Admin Thank you again for that reply but am still looking for an answer to my specific question which can be simplified to; Q- “Is it acceptable to use only one spot rate (chosen from a single day within the same tax year) to convert all payments received spread throughout the same tax year?” Thanks

Hi HMRC Admin Thank you for that reply and I understand that you do not provide an official exchange rate… however, after looking through several of your previous responses to different similar enquiries (e.g. two examples quoted below), I was looking for confirmation to the following specific question; Q- “Is it acceptable to convert to GBP four separate USD payments received on different dates within the same tax year, using a single day spot rate of my choosing (taken say from the Bank of England database) provided that the chosen spot day rate is selected from within the same tax year as that of the payments received?” In summary, by looking at some previous responses to similar questions, I was looking for confirmation that I can "Use any spot rate as long as it applies to the tax year in question". Examples of previous Admin responses; -Posted 10 months ago (13/07/2023 2:52 PM) by HMRC Admin 8 (/public/f18c9697-250d-ea11-a811-000d3a7ed2f2/forum-posts) As long as the spot rate applies to the tax year in question, there is no preference as to which is used -Posted 5 months ago (11/01/2024 11:54 AM) by HMRC Admin 20 (/public/8f77284c-1c5b-eb11-a812-00224840f801/forum-posts) You can use any of the dates that fall within the tax year the income arises Thankyou.

Dear HMRC, I receive a quarterly pension payment in USD so receive four separate payments roughly spread equally throughout a single tax year. As I understand from reviewing previous replies, please could you confirm that I am allowed to convert to GBP the four separate USD payments that are received on different dates within the same tax year with a single day spot rate of my choosing taken say from the Bank of England database as long as the selected spot day rate is taken from within the same tax year as that of the payments received? Thanks