EURO RATES OF EXCHANGE TO USE FOR FOREIGN CGT

I built a property in Greece in 2007/2008. I bought all the EUROS i needed in advance to fund the build but the payments to the builder were staged over the year and I suppose we became the owners when we paid the final installment? For CGT purposes can I use the rate for which I bought the Euros to fund the project OR can I use the HMRC rate for the month of the final payment? I bought Euros at 1.42 in Oct 2007 to fund the build but the ROE for March 2008 - DEC 2008 average rate was 1.2586 and this was when I made the final payment (other payments were made during the year previous to this. the latter would be better for me but worse for hmrc. How should I view this?

Hi,

As you bought the funds in advance you will use the rate you bought them at.

Thank you.