Revenue exchange rate

[con1974]

Hi,

I'm going to put my sterling earnings into section 25 on form 12. (as I was told to do by the revenue staff).

Does any one know how the revenue calculate the exchange rate, when taxing foreign earned income (Sterling)?

Do they have have an average rate for the year, take it on a set day, look at when the income was earned and use the exchange rate on that date?

 

[Gervan]

There is an official Revenue average which you can use if you don't have the value for each date income was received. For 2008 0.7962 euro to the GBP.

 

[jrewing]

Alternatively, I believe you can use the ECB rate for the particular day. You can download all historical rates from their website.