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Posted Sat, 07 Dec 2024 13:56:18 GMT by Pomhk
I sold some US shares in January 2024 and these shares were acquired in 2015. I became UK tax resident in September 2021. Should the acquisition cost of the shares be based on the the MV of the shares on the date I became UK resident as opposed to the original date of acquisition of those shares?
Posted Thu, 12 Dec 2024 13:04:19 GMT by HMRC Admin 19 Response
Hi,
For UK capital gains purposes, you would use the value of the shares you acquired them for in 2015. You will need to convert the acquistion cost to pounds sterling, using an exchange rate in use at the time of acquisition and at the disposal value at the time of disposal. 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. For your convenience, there are exchange rates here:
Exchange rates from HMRC in CSV and XML format
and for older rates here:
Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009
You are free to use any of the supplied rates or one of your own choosing.
Thank you.

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