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What exchange rate shall I use to convert foreign income into British pounds?

Article ID: 2099
Last updated: 31 Dec, 2024

When inputting any foreign income received on the tax return, this needs to be converted to the sterling equivalent (GBP) in order to declare the income correctly to HMRC. Historically, HMRC provided a centralised webpage containing the required monthly, average and spot currency exchange rates as per the webpage here. They have now split the content between the different areas now and these can be found using the below links:

  • Monthly currency exchange rates
    • Please note that when you click on the link above, you may need to select the applicable year on the right hand side underneath "Rates from previous years" as the default given will always be the latest calendar year.
  • Average currency exchange rates
  • Spot currency exchange rates
Article ID: 2099
Last updated: 31 Dec, 2024
Revision: 5
Views: 36110
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