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Question on Exchange Rate and Previous Earnings

Archived UK Tier 1 (General) points system forum. This route no longer exists.

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mr_pankaj
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Question on Exchange Rate and Previous Earnings

Post by mr_pankaj » Tue Nov 20, 2012 8:53 am

Hello Experts

Giving a brief background before I ask my question:

a. I am going for extension of my Tier-1 Visa and under section of Previous earnings I am claiming points in combination of Overseas Earnings (India) + UK Earnings.

b. I have worked with Indian company till 01st Aug and hence got the salary (with tax deductions) for month of Aug at the end of the month i.e. 31st Aug

c. I joined a company in UK on 06th Aug and got salary for the month of Aug at the end of the month i.e. 31st Aug


Question:

1. As I am eligible to claim points from overseas earnings, what date should I consider for the exchange rate, as my last date with India company was 01st Aug but I got my final settlement done and credited to my account on 31st Aug


2. As I started my UK job from 06th Aug, so do I have to show my salary of subsequent months in order of date of 06th. i.e. 06th Sep; 06th Oct; 06th Nov etc.


Appreciate all your suggestions.
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Peace,
Pan

Lucapooka
Respected Guru
Posts: 7616
Joined: Sun Aug 14, 2011 10:30 am
Location: Brasil

Post by Lucapooka » Tue Nov 20, 2012 9:03 am

Converting foreign currencies

27. Earnings in a foreign currency will be converted to pound sterling (£) using the closing spot exchange rate for the last day of the period for which the applicant has claimed earnings in that currency.

28. If the applicant's earnings fall either side of a period of maternity or adoption leave, earnings in a foreign currency will be converted to pounds sterling (£) using the closing spot exchange rate which exists:

(a) for the earnings earned before maternity or adoption leave, on the last day of the period before maternity leave, and

(b) for the earnings earned after maternity or adoption leave, on the last day of the period after maternity leave.

29. The spot exchange rate which will be used is that which appears on www.oanda.com*

30. Where the previous earnings claimed are in different currencies, any foreign currencies will be converted before being added together, and then added to any UK earnings, to give a total amount

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