Anyone know where I can get historical Euro buy rates?

[SueEllen]

But these are the interbank rates not the tourist rate which I want to use. The tourist rates are 'worse' so less sterling = less vat.

Have you tried talking to your bank to see if they can help you? You probably have to do it by phone. And they will probably be helpful if they aren't Santander.

[psychocandy]

I always use http://uk.finance.yahoo.om

Or try googling "historical exchange rates"

But these are the interbank rates not the tourist rate which I want to use. The tourist rates are 'worse' so less sterling = less vat.

Not from Tonypandy by any chance are you? :-)

[PandyLegend]

I always use http://uk.finance.yahoo.om

Or try googling "historical exchange rates"

[psychocandy]

I wouldn't try calculating it yourself as you are asking for trouble.

The only rate you can use if you can't find a tourist rate is HMRC's published rate.

Yeh. Looks like accountant has cost me a few tenners then.....

[psychocandy]

Why dont you ask them then?? Jesus. Your reliance on a load of random people on a public board who don't know your situation when it comes to dealing with important matters of your finance is amazing.

HMRC Contact us

No harm in asking if anyone else has done similar...

[northernladuk]

But what I need, for example, is what was the sell rate for Euros on 31st May 2011?

I can used Oanda to get the interbank rate, and I see its got a little add % tool. Like I said, I've heard its generally interbank+4% but HMRC say you can use market rate from, for example, newspaper. Not sure if they'll let me calculate it myself.

Why dont you ask them then?? Jesus. Your reliance on a load of random people on a public board who don't know your situation when it comes to dealing with important matters of your finance is amazing.

HMRC Contact us

[SueEllen]

But what I need, for example, is what was the sell rate for Euros on 31st May 2011?

I can used Oanda to get the interbank rate, and I see its got a little add % tool. Like I said, I've heard its generally interbank+4% but HMRC say you can use market rate from, for example, newspaper. Not sure if they'll let me calculate it myself.

I wouldn't try calculating it yourself as you are asking for trouble.

The only rate you can use if you can't find a tourist rate is HMRC's published rate.

[psychocandy]

But what I need, for example, is what was the sell rate for Euros on 31st May 2011?

I can used Oanda to get the interbank rate, and I see its got a little add % tool. Like I said, I've heard its generally interbank+4% but HMRC say you can use market rate from, for example, newspaper. Not sure if they'll let me calculate it myself.

[Greg@CapitalCity]

Oanda

I use these guys - an excellent source of historical FX data.

Look under Currency Tools / Historical Currency Converters

OANDA - Forex Trading and Exchange Rates Services

[northernladuk]

Try the link below. It has a tracker that emails you over time as well

Travelex United Kingdom - Travel Rate Tracker

[psychocandy]

Seems that HMRC allow you to use the crappy buy rate when you convert your invoices from Euros for the purpose of VAT. Of course, the crapper your invoice converts to sterling the less VAT you pay back on it (if you're on flat rate).

Its easy to find historical rates for mid rates (i.e. not the crap buy ones) and I'm sure I've read somewhere that commericial buy rates are normally about 4% on top. However, since HMRC expect you to quote your source for exchange rates I dont know if they'd be happy if I just took mid-rate and added 4%. (but then again how are they going to check exact historical tourist rates cos I cant find them!)

Of course, ideal situation is to check the tourist rate on the day you invoice and stick the converted sterling amount on your invoice for information. You're supposed to do this anyway.

Unfortunately, despite asking him about three times about Euro invoices in general, my accountant never though to advise me of this simple task. Admitedly, I could have read it myself on the HMRC website,

Anyway, VAT return and accountant has just gone and used a standard historical rate for that day. Didnt discuss with me just did it. I'm aware you could use the HMRCs standard rate for a month but see my opening paragraph. For me, depending on rate it could mean £20-£30 month extra VAT. Not a huge amount but hey.