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Currency Conversion: EUR to GBP

As of 1 July 2026, the Customer Due Diligence threshold for qualifying transactions in the UK art market is £10,000 GBP (unless there’s potentially suspicious activity, when value is irrelevant). For transactions before 1 July 2026, when the threshold was €10,000 EUR, conversion was required using the process below.

There is not a single official conversion platform to use. Accordingly, if you have a qualifying transaction, convert it on the day using a reputable source, for example Oanda.  If you’re looking at historic transactions, or want a general guide, refer to the gov.uk monthly conversion table.

Find the conversion and calculate

  • On the gov.uk currency conversion page, the current month is listed at the top of the list under ‘monthly exchange rates’.
  • Click ‘view online’ next to that month listing.
  • Looking at the left column, ‘Country/Territories’, scroll down to ‘Eurozone’ (noting that the list is in alphabetical order).
  • See the rate listed (in the column ‘Currency units per £1).
  • Divide €10,000 by that number to get the equivalent amount in £ GBP.

Work out the conversion to € EUR for a transaction in £GBP

  • On the gov.uk currency conversion page, the current month is listed at the top of the list under ‘monthly exchange rates’.
  • Click ‘view online’ next to that month listing.
  • Looking at the left column, ‘Country/Territories’, scroll down to ‘Eurozone’ (noting that the list is in alphabetical order).
  • See the rate listed.
  • Multiply that number by the amount in £ GBP to determine the value in € EUR.

How to calculate an amount from £ GBP?

Consider this example (from April 2022)

  • You’re conducting a transaction for £8,250.
  • In April 2022, the exchange rate was 1.2008.
  • Take £8,250 and multiply that by 1.2008.
  • The total is €9,906.60, so it fell below the qualifying threshold of €10,000 EUR.

Important: As a regulated business, you might still decide to conduct due diligence. If you potentially detect any suspicious activity, you are required to conduct due diligence, regardless of value or type of art being sold. You are also legally obligated to swiftly submit a Suspicious Activity Report (SAR) to the National Crime Agency (NCA) if it is determined by the Nominated Officer (or their Deputy in the NO’s absence) that there is suspicious activity.


Historic conversion rates from January 2020 to June 2026 have fluctuated from £8,324.32 to £9,209.80. To see these historic conversion rates visit our blog.