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Posted Mon, 25 Nov 2024 10:34:02 GMT by citronUFOs
When bringing forward allowable losses to set against profits, where the losses/profits are accounted for in a currency other than in Sterling, should the allowable losses be valued at the exchange rate in the tax period where they are used to set against profits, or the prior tax period where they were originally declared as losses to HMRC?
Posted Mon, 02 Dec 2024 10:55:15 GMT by HMRC Admin 18 Response
Hi,
They should be valued  at an exchange rate in the tax year they arose.
Thank you.

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