Capital Gains Tax : Currency Gains
Capital Gains Tax : Currency Gains
Personal Use - Tax Free
Provided any gains made on foreign currency were made as a result of you purchasing for personal use outside the UK, gains are exempt.
Investment Purpose - Taxable
If you invest in foreign currency for speculative purposes, these gains are chargeable to capital gains tax CGT.
Broadly speaking, the UK GBP £ sterling equivalent of the currency at the point of acquisition is deducted from the UK GBP £ sterling equivalent sale proceeds.
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