Payments in Euro in UK - how to invoice
Thread poster: magdalena2000

magdalena2000
Spain
Local time: 09:48
English to Polish
+ ...
Jan 7, 2008

Hello

I just moved to London from Barcelona so some of my clients are from Spain and they prefer to pay me in Euro (it is not a problem as I can receive payment by paypal). However, I am not sure how to issue an invoice? I know there has to be the amount in GBP on the invoice as well. Does anyone know accoring to which bank's exchange rate should I calculate it?

Many thanks!


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simona dachille  Identity Verified
United Kingdom
Local time: 08:48
Italian to English
no need to convert Jan 7, 2008

I work as a self-employed translator in the UK and issue invoices to Italian clients in euro. I don't convert it but when I do my tax return I rely on www.xe.com/ucc to convert the final amount into pounds.

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mjbjosh
Local time: 09:48
English to Latvian
+ ...
Official Journal Jan 7, 2008

Does anyone know accoring to which bank's exchange rate should I calculate it?


I'd use the one that is published in the Official Journal of the European Union or the Bank of England rate.

[Edited at 2008-01-07 20:31]


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Angela Dickson  Identity Verified
United Kingdom
Local time: 08:48
French to English
+ ...
no conversion Jan 7, 2008

As far as I know there's no need to convert. What I do is issue the invoice in euros, receive the amount into my British account and declare as income the (sterling) amount received into my account.

And if I'm doing it wrong, I have just told the whole world about it.


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Marijke Singer  Identity Verified
United Kingdom
Local time: 08:48
Dutch to English
+ ...
I use this method too and am based in the UK Jan 8, 2008

simona dachille wrote:

I work as a self-employed translator in the UK and issue invoices to Italian clients in euro. I don't convert it but when I do my tax return I rely on www.xe.com/ucc to convert the final amount into pounds.


XE also has a historical currency converter:
http://www.xe.com/ict/

Very useful when you do not check the exchange rate immediately and need to do it when filling in your tax returns. In theory, you should use the exchange rate of the date of the invoice (according to my accountant). I cannot see anything wrong with Angela's method either. I do not do this because my customers who pay in euros, trasfer the money to my bank account in the Netherlands.


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magdalena2000
Spain
Local time: 09:48
English to Polish
+ ...
TOPIC STARTER
Thanks Jan 8, 2008

Great! Thank you for your answers. Now it is all clear and I can start issuing my invoices

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Payments in Euro in UK - how to invoice

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