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Where Taxpayers and Advisers Meet

Foreign currency and CGT

majacvetnic@hotmail.com
Posts:1
Joined:Tue Nov 10, 2015 2:32 pm
Foreign currency and CGT

Postby majacvetnic@hotmail.com » Sun Sep 16, 2018 1:22 pm

I sold a foreign property for euros (and paid CGT) that have been held in an offshore euro account since. I have recently transferred the funds to my UK GBP account.
There was a significant change in exchange rate between two events. Am I correct in assuming that the gain should be reported on my tax return?

Thanks

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Foreign currency and CGT

Postby maths » Mon Sep 17, 2018 2:01 pm

No, you are not correct.

Any gain arising in £ on a euro bank deposit is not subject to CGT.


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