We use the current interbank exchange rate of the day, and we apply a 0.50% FX markup.
If you’re sending a payment, once you've entered how much you'd like to send in USD we'll show you the live exchange rate, FX markup fee and the transfer fee (if applicable to your plan) on the screen.
The exchange rate will also update automatically every 30 seconds, allowing you to see how much the person you're paying will receive and how much it'll cost you in real time. HMRC Online and go to:
After you’ve made the payment, you can see the exchange rate used again by tapping on the transaction in your timeline.
For any rejected outbound payments we will apply the exchange rate available at the time of the return. This means when the payment is returned to you, it might be a different amount.
If you’ve received a payment, you can see these same details by tapping the transaction in your timeline.
Disclaimer: FX markup for our members on the Standard/Free plan will be increased to 1.5% from 28 May 2025 (members on our Paid plans will remain on 0.5%)
If you still need to change a tax code manually, log in to Tide on the web and click on:
Admin > View Team > select an employee > Work & Pay > Tax > Update.
If you or your employee disagree with a tax code or need clarification, please contact HMRC directly.
See more about Tax Codes here.
How do I see HMRC notifications in Tide Payroll?
Click on: Admin > Payroll > Settings > See messages from HMRC, and you’ll see a list of notifications, sorted by pay run.
Normally, the HMRC sends tax notifications on the 10th of each month.
