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I live in the UK and will start working as a contractor for an EU company soon and I am very new to this process. The company will pay me monthly in Euros, am I obligated exchange them to pounds?

I will be working with them for a few months from the UK and I will be taxed here, and then I will move to the EU as well. I intent to spend that money in the EU when I leave, is it possible to get paid in Euros on my Revolut account for example, where I have both euros and pounds, and never exchange them until I leave the UK and still be able to get taxed on them?

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At some point you will be required to pay some taxes to HMRC. That bill will have to be paid in UK pounds.

That is the only exchange to pounds you will need (apart of course from anything you need to live in the UK). It is definitely not necessary to actually change your entire salary into pounds.

When you report your salary to HMRC you will need to report it in pounds, but that can be simply the pounds equivalent of however many Euros you were actually paid. You don't need to actually change it into pounds.

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  • that's spot on, have been trying to find that answer all day today. Thank you. Oct 27 '21 at 19:55

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