Correct according to what criteria?The OP is wondering whether taking one yearly average fx rate is correct?
Criteria is the published indexes which is why I'm enquiring if this is correctCorrect according to what criteria?
My accountant uses the annual average chart - maybe this one?
I submit Jan to Dec income and ignore the tax year difference since none of our UK pensions/interest is taxed there.
It's received into a Euro account but even if its going into a GBP account in Ireland or UK, it would still need converting into Euro for Irish revenue assesment as earningsIs the GBP income received into a Euro account? or a GBP account?
I suspect you should be using the exchange rate on the date you receive the income
But as the GBP/EUR is relatively stable, using an average rate is probably acceptable- Revenue won't be that bothered