Exchange Realisation Questions.

[plasticpig]

Just trying to get my head round this as its seems to have become a bit of an issue. If a company has EUR and USD accounts what exchange rate do you use at year end to crystalise gains and losses? Would it be reaonable to use the banks quoted rate or do HMRC have some devious rules about which rate to use?

[havoc]

Don't know for certain but I would expect the Revenue couldn't really argue with using the rate the bank would give you as at the year-end date.