uk webmasters - tax questions

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  • marktruman
    Confirmed User
    • Aug 2004
    • 1026
    #1

    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?
    Tags: None
    • fatfoo
      ICQ:649699063
      • Mar 2003
      • 27763
      #2
      I suppose foreign exchange rates and calculations should be shown. See foreign exchange rates here: http://www.x-rates.com/.
      Send me an email: [email protected]

        Comment

        • woj
          <&(©¿©)&>
          • Jul 2002
          • 47880
          #3
          You just use whatever you actually paid in GBP? But yea, make a note on the invoice...
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            • roly
              Confirmed User
              • Aug 2002
              • 1844
              #4
              yeah just write the sterling amount on the invoice, they can check your bank account if they need to confirm it.

                Comment

                • marktruman
                  Confirmed User
                  • Aug 2004
                  • 1026
                  #5
                  Originally posted by roly
                  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

                    Comment

                    • Paul Markham
                      Too old to care
                      • Jun 2001
                      • 52942
                      #6
                      Originally posted by marktruman
                      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.



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                        Comment

                        • u-Bob
                          there's no $$$ in porn
                          • Jul 2005
                          • 33063
                          #7
                          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.

                            Comment

                            • Phoenix
                              BACON BACON BACON
                              • Nov 2002
                              • 35475
                              #8
                              i just let me accountant deal with the dollar differences.

                              sometimes you can get a break that way
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                                Comment

                                • Altwebdesign
                                  #9
                                  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.

                                    Comment

                                    • marktruman
                                      Confirmed User
                                      • Aug 2004
                                      • 1026
                                      #10
                                      Originally posted by Paul Markham
                                      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.
                                      In the uk, we do not have to submit our bank statements. Just invoices

                                        Comment

                                        • Altwebdesign
                                          #11
                                          Originally posted by marktruman
                                          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. . .

                                            Comment

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