TCM1000461 - How to convert foreign currency to British pounds

Version 1.0

Changes to previous version - new guidance.

Step 1

On the HMRC intranet homepage

  • select 鈥楨鈥� from the 鈥楢-Z index鈥�
  • select 鈥楨xchange Rates鈥�
  • select 鈥楨uropean Rates鈥� from the options available
  • select 鈥楪o鈥�
  • note the average net exchange rate for the relevant tax year
  • multiply this by the foreign income figure on the Annual Declaration
  • enter this on the tax credits computer.