Which currency exchange rate to use on invoice?

chrisukforum

Free Member
Apr 6, 2014
3
0
Hello
As I am planning to sell abroad, I wonder how to work around currency issues, specifically - which currency exchange rate should I use on invoices.


Say - today - I sell something in Germany.. for 10 euro...
As I was advice on HM helpline, my invoice should have euro amount as well as GBP amount for record keeping purposes. Well how many GBP to put on invoice in this case?

Which currency exchange rate should I use - rate, that is valid in the eyes of taxman?
Bank of England daily spot exchange?
HM Rates of Exchange for Customs and VAT purposes 04-2014 ?
Funny thing - those rate are not exactly the same :)
also..
BoE doesn't give TODAYS rate.. only from yesterday .. what rate should I use for todays invoice since todays rate is unknown yet [not yet published bye BoE).

I'd be very thankful for any light on this matter
bye
chris
 
Are you only selling abroad, or are you selling in the UK too?
Are you holding funds in EUR, or only GBP?
Do you have any history/information from your bank on what the general commission they take for currency exchange is?
 
Upvote 0

Latest Articles