Hi all,
I'm selling the last of my shares in a company I co-founded in the USA. They're being sold to five other employees. Three have already transferred their funds, sale agreements were dated 29 March. Two haven't yet so will do next week (and their agreements will be dated 6 April, i.e. next tax year.)
Because of the volatility of the USD/GBP, I'm currently keeping the funds in USD (Transferwise), and will likely convert it when the rate is more favourable (as it was 10 days ago.)
How do I report my CGT on my self assessment?
I'm assuming I convert the three amounts already received to their GBP value as of 29 March, and put them on the 2019/20 return. Then next year, add the two other figures in GBP as of 6 April 2020, to the 2020/21 return.
If say I wait til the USD/GBP gives me say an extra £5000 on the conversion (for arguments sake I convert the funds on 1 September 2020 and get £5000 more GBP than I would have on the dates of the shares being sold) how do I report that gain in exchange?
Thanks!
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