Official Conversion rate for 2003/04 - Dollars to Pounds

Hi Helen,

What conversion rate should I be using for my UK taxes for tax year 03/04?

I get paid in Dollars so I need to know!

Thanks

It is 1.6939

Hi Helen,

Just want to clarify so I know what to do for tax year 2004.

For 2003 the official rate was 1.6421 so I assume 1.6939 is the calculation we use when filing our 2004 returns?

Also, has the £80,000 exclusion increased for 2004 or has it stayed the same?

Thanks!

Julie

the 1.6939 is the fiscal echange rate for 2003/04 UK tax year (not calendar year). The IRS issues the official calendar year exchange rate every year. I will find out what it is and get back to you.

The foreign earned income exclusion remains at $80,000 for 2004 (not £80,000).

Helen

Is that rate 1.83?  thanks