Hi JoeyCat
If you are resident in the UK for tax purposes, for the whole tax year, but not domiciled here, then the remittance basis may apply.
If the remittance basis applies and you do not remit the property income to the UK, then it is not taxable in the UK and a tax return is not required.
If you do remit the property income to the UK, then it is taxable and a tax return is required.
If you use the arising basis, you would convert the profits and foreign tax paid to pounds sterling and claim foreign tax credit relief on SA106 of the tax return.
If you use the remittance basis, then the number of years you are resident in the UK is a factor in working out the remittance.
Remittance basis is claimed through SA109 supplementary page.
Please have a look at the guidance at RDR1 to see if the remittance basis applies.
Residence, domicile and the remittance basis: RDR1
The official currency exchanges to use can be found at :
HMRC exchange rates for 2022: monthly
You can choose any one of the three exchanges shown.
Thankyou.
Regards.