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dwyl / UK-HMRC-FAQs

:money_with_wings: An incomplete guide on what you need to know about the HMRC if you're a freelancer in the UK
MIT License
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International expenses/purchases #11

Open iteles opened 8 years ago

iteles commented 8 years ago

You can buy goods and services in the currency of your choice. But all purchases or sales must be converted into sterling for VAT purposes.

https://www.gov.uk/guidance/foreign-currency-transactions-vat-and-tour-operators

You can either use market rates at the time (which isn't too much hassle if you're looking up rates for 2 receipts on 2 different days, but looking up 30 days of exchange rates is a problem) or the HMRC's exchange rates (these seem to work out a little better if there's lots of fluctuation as well).