Foreign Purchases

Diddy Mau
Diddy Mau Registered Posts: 238 ? ? ?
Hello all,

I have a strange question, that I hope someone could help me with.
is there any tax implications to purchasing international flights and accommodation in another currency apart from pounds sterling.
The company I work for works all over visiting different companies, and we charge in their local currency.
therefore we have accumulated more foreign currency. The rates are no goo to sell.

Comments

  • Gem7321
    Gem7321 MAAT, AAT Licensed Accountant Posts: 1,438
    As far as I know only Corporation Tax on the exchange gain/loss as at year end (not including any VAT obligations for trading internationally).
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