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Posted Mon, 02 Dec 2024 17:14:47 GMT by Avalon_4322
How do I calculate the CGT loss arising only from the transfer of a sum of money arising from a transaction abroad (Eurozone, sale of inherited property)? The transfer occurred some time after the sale. Do I use the HMRC exchange rate on the day the bank transferred the money to me (the disposal date) to convert the sum I received in GBP back to Euros then convert the Euro sum back to GBP on the acquisition date (the date of the sale)? The loss then being the difference between the GBP sums? Or some other way?
Posted Fri, 06 Dec 2024 12:05:26 GMT by HMRC Admin 20 Response
Hi,
It is not the transfer of the money that you work it out on, it is the difference in value of  the actual property from the date inherited to the date sold and you will
use the exchange rate at these dates.
Thank you.
Posted Fri, 06 Dec 2024 16:50:54 GMT by Avalon_4322
Thank you for your reply.

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