uk webmasters - tax questions
 

When you guys submit your tax returns with invoices. How do you show the pound amount when invoice is billed in dollars? Do you just write it on invoice?

I suppose foreign exchange rates and calculations should be shown. See foreign exchange rates here: http://www.x-rates.com/.

You just use whatever you actually paid in GBP? But yea, make a note on the invoice...

yeah just write the sterling amount on the invoice, they can check your bank account if they need to confirm it.

not sure IR can check your bank at will, I think they need to make a tax investigation against you for that

I think they can. Starting a tax investigation is easy for them. You will have to submit your bank statements anyway.

You really should be asking an accountant these questions.

Not in the UK, but in the EU.

When I send an invoice in USD, I mention everything in USD except for the VAT amount. I mention that in USD and in EUR.

i just let me accountant deal with the dollar differences.

sometimes you can get a break that way

on my incomings balance sheet it shows the currency i was paid in e.g USD the converion rate for that transaction and the total amount i recieved in GBP

I do it via paypal so the conversion rate is given to me there and then.

In the uk, we do not have to submit our bank statements. Just invoices

I've never had to submit those. . . i have excel docs with everything in but theyve never been required. . .