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I earned a small amount (about £350) of interest on an offshore Euro account in the year to 2014. We opened this account to hold the deposit holiday property, the purchase of which fell through. We left the money in the account, as we intend to try again this year. How should I treat this account purposes of self-assessment (including the basis of the exchange rate)? The account is held with Lloyds International in the Isle of Man.
Thank you - but I think you may have replied before I amended the question & raised the payment. I asked also how to calculate the exchange rate that applies, as interest is declared in euros.
again. It's been a few days since I answered your question. Is there anything you need further clarification on?