Hello
Guest

Sponsored Links


Topic: Calculating cap gains for HMRC  (Read 540 times)

0 Members and 1 Guest are viewing this topic.

  • *
  • Posts: 3928

  • Liked: 718
  • Joined: Nov 2012
  • Location: Eee, bah gum.
Calculating cap gains for HMRC
« on: September 20, 2017, 07:18:58 PM »
I am a USC/UKC living in the UK and thinking about what's needed to file with HMRC. In January I sold some US shares and know how much they cost and the exact date they were bought. I also know the exact date and proceeds of the sale and the capital gain in US dollars.

To calculate the cap gains for HMRC I am thinking that I will need to use the exchange rate in effect on the dates of purchase and sale. Does HMRC have a published list of official rates or should I just use the historical rate tables published by a company like XE.com?
Dual USC/UKC living in the UK since May 2016


  • *
  • Posts: 17754

  • Liked: 6110
  • Joined: Sep 2010
Re: Calculating cap gains for HMRC
« Reply #1 on: September 20, 2017, 08:38:49 PM »
Does HMRC have a published list of official rates or should I just use the historical rate tables published by a company like XE.com?

They have their own rate tables.

https://www.gov.uk/government/publications/exchange-rates-for-customs-and-vat-yearly


  • *
  • Posts: 3928

  • Liked: 718
  • Joined: Nov 2012
  • Location: Eee, bah gum.
Re: Calculating cap gains for HMRC
« Reply #2 on: September 20, 2017, 10:05:22 PM »
Excellent, thanks so much for the quick response.
Dual USC/UKC living in the UK since May 2016


  • *
  • Posts: 2606

  • Liked: 102
  • Joined: Dec 2005
Re: Calculating cap gains for HMRC
« Reply #3 on: September 21, 2017, 09:03:07 AM »
Case law requires that one uses spot rates. HMRC do not publish official spot rates. Any commercially published rate should be acceptable.


  • *
  • Posts: 3928

  • Liked: 718
  • Joined: Nov 2012
  • Location: Eee, bah gum.
Re: Calculating cap gains for HMRC
« Reply #4 on: September 21, 2017, 03:08:22 PM »
Case law requires that one uses spot rates. HMRC do not publish official spot rates. Any commercially published rate should be acceptable.

Perfect, thanks.
Dual USC/UKC living in the UK since May 2016


Sponsored Links