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Thursday
May202010

Foreign Currency Exchange Rates Available from HMRC for Use by Those Businesses Registered for VAT

VAT is something of a minefield for many people, especially those who are new to it and have just registered for the first time.  In addition to this I think it’s clear that some businesses are more likely to have to work out figures in more than one currency, particularly when it comes to doing business with foreign customers and clients.

This is why I am particularly pleased to point out the existence of various exchange rate details on the HM Revenue and Customs website.  If some of your invoices are made out in other currencies and you are registered to pay VAT, you will need to know what the exchange rates are so you can perform a conversion.

While in theory you could go to any site to get this information, I would always advise using a source that is approved by HMRC.  To this end the best place to go is their own website, as they publish an acceptable set of conversion rates here.

The rates are published for both weekly and monthly time periods, and there are various sections on the site that go back as far as 2003.  There is also a useful section which explains in detail how you must go about performing these conversions when you are invoicing clients in currencies other than sterling.

I would always recommend taking the advice of a professional, qualified accountant if you are about to register for VAT for the first time.  Here at St Matthew we can provide this advice for you, so if you have any worries or concerns about your invoicing procedures, particularly if you work in more than one currency, contact us today.

 

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    Foreign Currency Exchange Rates Available from HMRC for Use by Those Businesses Registered for VAT - Tax, Legal & Business News from London - St Matthew Accountants London
  • Response
    Foreign Currency Exchange Rates Available from HMRC for Use by Those Businesses Registered for VAT - Tax, Legal & Business News from London - St Matthew Accountants London
  • Response
    Foreign Currency Exchange Rates Available from HMRC for Use by Those Businesses Registered for VAT - Tax, Legal & Business News from London - St Matthew Accountants London
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    Response: you can try here
    Foreign Currency Exchange Rates Available from HMRC for Use by Those Businesses Registered for VAT - Tax, Legal & Business News from London - St Matthew Accountants London
  • Response
    Foreign Currency Exchange Rates Available from HMRC for Use by Those Businesses Registered for VAT - Tax, Legal & Business News from London - St Matthew Accountants London
  • Response
    Foreign Currency Exchange Rates Available from HMRC for Use by Those Businesses Registered for VAT - Tax, Legal & Business News from London - St Matthew Accountants London
  • Response
    Response: bitcoin pricing
    Foreign Currency Exchange Rates Available from HMRC for Use by Those Businesses Registered for VAT - Tax, Legal & Business News from London - St Matthew Accountants London
  • Response
    Response: bitcoin pricing
    Foreign Currency Exchange Rates Available from HMRC for Use by Those Businesses Registered for VAT - Tax, Legal & Business News from London - St Matthew Accountants London

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