Update on Currency Code for Bulgaria from 1st February 2026:
As of 1st January 2026, Bulgaria officially adopted the Euro (€/EUR) as its national currency, replacing the Bulgarian Lev (BGN). For a short period until the 31st of January, either BGN or EUR can be declared when submitting declarations. As of 1st February, BGN can only be declared on declarations with a tax point prior to 1st February and BGN can no longer be declared on any declarations where the tax point is 1st February or later.
IT System changes:
- The Bulgarian LEV (BGN) will be removed from the exchange rates list published on the Online Trade Tariff as of 1st February Link: HMRC currency exchange monthly rates - GOV.UK.
BGN will still appear on the CDS exchange rates list for the time being until a software update is delivered. It’s important to note that BGN must not be used for declarations with a tax point of 01/02 onwards.
Update on Currency Code for Venezuela from 1st February 2026:
We have made a change to the Venezuelan currency to be effective from 1st February 2026. This change consists of updating the Venezuelan Bolivar Digital (VED) to the official of currency of Venezuela - the Venezuelan Bolivar Soberano (VES).
CDS will not be able to accept the new currency code until a software update currently expected to be delivered in June 2026. In the meantime, please note the following when submitting declarations which include a value in Venezuelan currency:
For goods arriving on or after 1st February 2026, currency codes VED and VES must not be declared. Values which would have been declared in Venezuelan currency units must instead be manually converted to Sterling using the appropriate exchange rate and declared in GBP. In such cases, the worksheet showing the calculations should be declared by completing document code 9WKS in DE 2/3 with document status code AC. Any pre-lodged declarations for goods arriving on or after 1st February 2026 which include the currency code VED, will need to be amended before the declaration has arrived.
For Supplementary Declarations with a tax point date prior to 1st February 2026, currency code VED should continue to be used instead of VES.
HMRC releases official customs exchange rates every month, and these are the rates traders must use when converting a foreign currency into GBP for customs valuation. The rates are published on the penultimate Thursday of each month and apply to the following calendar month. Traders can view or download them (HTML, CSV, XML) here https://www.trade-tariff.service.gov.uk/exchange_rates/monthly
More information
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