Calculating average value of Sterling Pension for Income Tax

I've been advised that there is a formula one is supposed to use when submitting income from a UK pension. In other words I don't simply take todays Sterling to Euro rate. One is supposed to calculate the Average Yearly Rate that applies to the Tax year in question(?) Is anyone familar with this and how to apply the formula?

Is it paid into a Eur bank account? I would take the EUR value from your statement if so.

Reader said:

I've been advised that there is a formula one is supposed to use when submitting income from a UK pension.

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There is a Revenue document with annual average exchange rates here.

I presume that this is the one to use but open to correction.

misemoi said:

Is it paid into a Eur bank account? I would take the EUR value from your statement if so.

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Yes - OK - Thanks - I see above someone has provided a link with a table with the average exchange rates.

If it is paid into a euro bank account, then you use the amount is euros that you received not the calculated value of the pension times an exchange rate