CGT - Exchange and transfer fund to another account

Hi, I have an individual account in Interactive Broker Hong Kong Ltd. (IB-HK), and a joint account (with my wife) in IB-UK. After we immigrated to UK, I needed to transfer the USD cash from IB-HK to IB-UK. As IB-HK doesn't provide the direct transfer service of the assets, I needed to change the USD into HKD and transfered it to a bank in Hong Kong in February. And then transfer the HKD from bank to IB-UK, change the HKD back to USD in IB-UK in May. The total amount was more than £50,000. Right now I have some questions. 1. Should I report it to HMRC in this tax year or next year ? 2. Which exchange rate should I follow ? IB exchange rate or HMRC exchange rate of the month ? 3. The gain/loss should be counted on my account (Individual account in IB-HK), or split it to 2 (joint account in IB-UK) ? Thank and regards.

Hi,

Capital Gains Tax may be due. You can see guidance here:

CG78300 - Foreign currency: introduction

If so, any gain for the current tax year, should be reporterted in your 2023/24 tax return. You can use any of the spot rates from HMRC within the tax year:

HMRC average currency exchange rates

Any gain to report would be shown as a total.

Thank you.