Currency Exchange, Tax Implication

Hi, I have a questions regarding currency exchange. Before I moved to the UK, I have some currencies in USD, CHF, EUR and HKD. After I moved to the UK, I transferred those currencies to my UK account and I exchanged some amount to GBP for daily expenses. 1. First of all, I believe this will not have any tax implication. Am I correct? 2. And now I would like to exchange the remaining CHF and USD to JPY. This is not a trade as I have a full time job and JPY is for future expenses, for example travel, shopping in Japan. If I have a gain here, is there any tax implication here? 3. And if someday, I would like to exchange the remaining JPY amount back to GBP, again for daily expenses. If there is a gain, is there any tax implication? Many thanks in advance! Best regards, Reika

Hi

Currency other than sterling is a chargeable asset and its disposal can give rise to a chargeable gain or an allowable loss.  
From 6 April 2012 the treatment of foreign currency bank accounts was simplified.
From that date the treatment of foreign currency bank accounts for individuals, trustees and personal representatives (including members of a partnership) were aligned with the treatment of ‘simple debts’.
TCGA92/S252. Such debts will not give rise to chargeable gains (or allowable losses) in the hands of the original creditor.  Please see CG78320 - Foreign currency: foreign currency bank accounts - introduction

Thank you