..... is exactly what I thought for my first Irish tax return of UK pension income. With 4 small pensions between the wife and I, paid at different times of the month, it was a tedious spreadsheet job. I then discovered that the Revenue Commissioners publish an annual average rate that they are happy to accept (certainly for income tax - I don't know about CGT or other taxes). Doh!...... Presumably any transactions that actually involved converting Sterling to Euro get counted at whatever conversion rate was used at the time?