Hi all,
we arrived in the UK last year. It's my first self assessment. I've already read a lot about tax matters on official websites, but I'm still confused. I don't know how long we are going to stay here. So my question is, can I choose the remittance basis now and then change to the arising basis in the future?
Thanks

Hi all,
I invoice my clients in their local currency. I convert the amount into sterling on the invoice for tax purpose only.
My clients pay in their local currency through Paypal. I convert it into sterling the day I receive the payment. Paypal's exchange rate is usually less advantageous than the one used on my invoice. Can I account this difference same as an expense for my accounting? Thanks for your replies.