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Where Taxpayers and Advisers Meet

Euro share portfolio

Joined:Sat Oct 16, 2021 7:19 pm
Euro share portfolio

Postby TennisGod » Sat Oct 16, 2021 7:30 pm

A UK taxpayer runs a Euro share portfolio through a EU bank

For UK CGT on the shares, he converts sale / purchase prices back to sterling at sale/purchase dates respectively

He appreciates that
1. Pooling takes place when dealing in any particular share
2. The bank’s expenses, charged in Euros, are not deductible
3. CGT may arise on the gains/losses in the Euro currency dealings
4. Pooling takes place in respect of those currency dealings

Do the figures in para 2 above affect the pooling calculations in para 4

In other words, when the banks fees are paid in Euro,
• is the pooling calculation on the Euros adjusted as if Euros had been sold
• do you ignore those payments and just concentrate on the sterling gains / losses made on Euros held between share dealings and receipt/ reinvestment of Euro dividends

Return to “Capital Gains Tax, CGT”