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K
kgar
June 10, 2019
Question

Will HMRC accept your exchange rates, until now I used the monthly HMRC rates, but it would be much more convenient if they accept your rates.thanks

  • June 10, 2019
  • 1 reply
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1 reply

T
TaliaI
June 10, 2019

Hello kgar,

 

QuickBooks uses the New York Stock Exchange for any exchange rates. If you are unsure if HMRC accepts this, it would be best to contact them to check.

 

Thanks,

 

Talia

K
kgarAuthor
May 21, 2020

Hello

in the meantime I have contacted HMRC but to e honest I didnt understand their answer. I would like to know if other QB users are using the NY stock exchange rates or if they change this rate to the HMRC manually for each transaction?

thanks a lfot

Karin

IamjuViel
IamjuViel
May 21, 2020

Hello, @Karin.

 

Let me share the complete list of HMRC-recognised stock exchanges in the United States of America. 

  • BATs Exchange Inc
  • Boston Stock Exchange
  • Chicago Board Options Exchange
  • Chicage Stock Exchange
  • International Securities Exchange
  • National Stock Exchange
  • New York Stock Exchange
  • NYSE MKT
  • NYSE Arca
  • NASDAQ OMX PHLX
  • NASDAQ

You can visit the HMRC website to see the complete guide of recognised stock exchanges within each country. Also, you can view which markets are classed by HMRC as having listed securities. You can browse this site: Recognised stock exchanges: section 1005 Income Tax Act 2007.

 

On the other hand, I've got these articles to learn how QuickBooks handles multicurrency:

Always feel free to get back to us if you have other questions about managing your business using QuickBooks. Wishing you continued success!

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