HMRC Exchange Rates 2025: Monthly, Average & Official Rates

HMRC’s exchange rates aren’t advisory—they’re legally binding for UK tax returns and customs duty on imports. The rates are available on GOV.UK in downloadable formats, and the publication schedule is predictable. This guide covers monthly rates, yearly averages, euro rates for 2026, and how to pull the data you need for Self Assessment.

Official source: GOV.UK trade-tariff.service.gov.uk ·
Monthly rates available: From 2021 to 2026 ·
Average rates published: 31 March and 31 December yearly ·
Formats offered: CSV and XML ·
Euro rates update: Effective 1 January 2026

The table below summarises the key official sources for accessing HMRC exchange rate data directly.

HMRC exchange rates monthly

HMRC publishes foreign exchange monthly rates, yearly averages, spot rates, and weekly amendments in CSV and XML formats on GOV.UK (GOV.UK / HMRC official collection). These rates apply UK-wide for customs and VAT purposes with no regional variations (GOV.UK / HMRC official collection).

Monthly rates overview

HMRC rates cover over 160 countries and currency zones (ICAEW professional guidance on approved rates). The January 2025 HMRC customs rate for USD was 1.2707 GBP per USD, which differs from the ONS average rate of 1.3384 GBP per USD for December 2025 (Clear Fr8 HMRC rates aggregator; ONS Sterling exchange rates data). This discrepancy matters: HMRC rates are official for customs and VAT, while ONS averages serve different statistical purposes.

How to access monthly rates

1. Visit trade-tariff.service.gov.uk/exchange_rates/monthly
2. Select the year you need (2021 through 2026 available)
3. Choose your preferred format: CSV spreadsheet, XML data file, or HTML table
4. Download the file for your records or integration needs

Three formats are available for download from GOV.UK: CSV spreadsheets, XML data files, and HTML tables (GOV.UK / HMRC official collection). Direct links to current monthly rates appear at trade-tariff.service.gov.uk/exchange_rates/monthly, with years spanning 2021 through 2026. Archived rates from January 2021 onward are accessible via the National Archives UK Government Web Archive if they disappear from the live site.

Rates from previous years

According to ICAEW guidance, archived HMRC rates dating back to 2003 are available through the National Archives (ICAEW approved exchange rates guide). The Whillans Tax Tables reproduce HMRC rates going back two years as of August 2025, providing another archive route for recent historical data. For transit and customs rates queries, HMRC directs businesses to contact nctshelpdesksalford@hmrc.gov.uk.

HMRC yearly average exchange rates

HMRC publishes two sets of yearly average exchange rates each year: one for the tax year ending 31 March and another for the calendar year ending 31 December (ICAEW guidance on approved rates). These averages matter for customs declarations and VAT calculations that span multiple months.

Publication schedule

Average exchange rates appear on the GOV.UK exchange rates collection page on exactly two dates each year: 31 March (covering the tax year) and 31 December (covering the calendar year) (GOV.UK / HMRC official schedule). This predictable timetable means businesses can plan ahead for annual reporting needs.

Average rates access

Yearly averages are available alongside monthly rates at trade-tariff.service.gov.uk/exchange_rates/average (GOV.UK collection page). The same CSV and XML formats apply, making it straightforward to incorporate these figures into accounting software or customs declarations.

Use for tax purposes

HMRC’s internal guidance on exchange rates for tax purposes lives in BIM39515 (for tax calculations) and BIM39510 (for accounts) (ICAEW HMRC approved exchange rates guide). These are the authoritative internal manuals that tax advisors and accountants reference when determining which rates apply to specific circumstances.

HMRC exchange rates 2025 euro

Euro exchange rates for 2026 were published by HMRC in December 2024 and apply specifically to transit and community procedures, not general customs monthly rates (GOV.UK December 2024 euro exchange rates notice). This distinction matters for businesses dealing with non-euro EU countries.

Euro specific rates

The official GBP-to-EUR rate set for 2026 is 0.8697 GBP per EUR (GOV.UK December 2024 euro rates publication). This rate applies from 1 January 2026 and remains valid until at least 31 January 2026 for currencies like the Bulgarian lev (1.9558 BGN per EUR).

2025 euro rates details

The December 2024 publication states that “These rates shall be applied with effect from 1 January 2026” (GOV.UK HMRC transit newsletter). For transit rate queries, HMRC directs businesses to nctshelpdesksalford@hmrc.gov.uk.

Official euro rates publication

Euro rates for 2026 differ from general HMRC customs monthly rates because they originate from the European Commission and are published via HMRC for transit and community purposes (GOV.UK euro rates for transit notice). The general customs monthly rate pages do not directly list EUR among their supported currencies.

HMRC exchange rates for Self Assessment

Self Assessment taxpayers who need to translate foreign income or expenses into Sterling must use HMRC-approved exchange rates, not market rates from banks or commercial services (ICAEW HMRC approved exchange rates guide). Using the wrong rate can trigger corrections during tax return processing.

Using rates in Self Assessment

HMRC BIM39515 provides the authoritative internal guidance on exchange rates for tax purposes (ICAEW approved rates guide). For accounting purposes, BIM39510 covers how to treat foreign exchange gains and losses. These manuals are what professional tax advisors reference when preparing complex foreign income scenarios.

Approved sources

According to ICAEW guidance, the best sources for current and historical HMRC-approved exchange rates are the GOV.UK official collection pages and the ICAEW library resources themselves (ICAEW finding current and historical exchange rates guide). ICAEW specifically recommends checking whether commercial exchange rate providers are actually sourcing their data from HMRC or using their own calculations.

Historical rates access

For previous tax years, archived HMRC rates are accessible via the National Archives UK Government Web Archive dating back to 2003 (ICAEW HMRC approved exchange rates guide). The Whillans Tax Tables, available through ICAEW’s library holdings dating back to 1992/93, also reproduce HMRC rates for recent historical periods.

HMRC exchange rates April 2025

Specific HMRC exchange rates for April 2025 and subsequent months through November 2025 have not yet been listed on the official GOV.UK pages as of the current date (Clear Fr8 HMRC rates aggregator). This is normal: HMRC publishes rates retrospectively, typically within days of the period ending.

April 2025 specific rates

Monthly rates for April 2025 are expected to appear on the GOV.UK collection page after the month concludes, consistent with the established publication pattern (GOV.UK exchange rates collection). The rates cover import duties and taxes as noted by UK Imports, making them critical for businesses with overseas supply chains.

Monthly updates including April

HMRC issues monthly exchange rates for import duties and taxes on a consistent schedule (UK Imports guidance on HMRC monthly rates). Each monthly update covers the preceding calendar month and becomes available in CSV and XML formats alongside the HTML tables on GOV.UK.

Accessing future monthly rates

To access rates for April 2025 and beyond, bookmark the monthly rates page at trade-tariff.service.gov.uk/exchange_rates/monthly and check after each month ends (GOV.UK official collection). Third-party aggregators like Clear Fr8 also republish HMRC data in accessible formats, though the official GOV.UK source remains the authoritative version.

“These rates shall be applied with effect from 1 January 2026.”

— HMRC transit notice (GOV.UK December 2024 euro exchange rates notice)

“Please note: the exchange rates are not official rates.”

— Bank of England (Bank of England exchange rates statistics)

For UK businesses importing goods, the choice of exchange rate is not academic: HMRC’s published monthly rates are the legal standard for customs declarations and VAT calculations. Self Assessment taxpayers converting foreign income face the same requirement to use HMRC-approved rates rather than market rates. The practical implication is straightforward: bookmark the GOV.UK collection page, download the CSV files for your records, and never rely on a bank’s daily rate when HMRC’s rates are mandated.

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