Exchange rate to be adopted of converting to sterling for CGT

For converting a non-sterling profit and loss, it is required to convert the non-sterling assets into GBP. May I apply the annual rate for my acquistion transaciton and apply monthly rate for my disposal transaction in order to calculate the CGT? Does HMRC allow tax payer to pick between annual / monthly / spot freely to calculate CGT so that a smaller amount can be calculated for tax purpose. Regards

Hi,

To convert from a foreign currency to pounds sterling, please use the official rate of exchange at the time of the exchange. You are free to use the yearly rate, the monthly rate or the spot rate.  

If a conversion was undertaken to deposit the money into a UK bank account, then this figure can be used.  

The exchange rate is not set in stone, which is why you have a choice. Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal. 

The official exchange rates can be found here:

Exchange rates from HMRC in CSV and XML format

Thank you.