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Posted Sun, 06 Oct 2024 20:18:08 GMT by Nathan
Hello, I came to UK with HKBN(O) visa in June 2023, and I understood that capital loss can be claimed to HMRC within four years. Does it imply that I am able to file for self assessment 2023/2024 with any profit and loss that I have made in UK and overseas date back four years from 2023 i.e. April 2019? Cheers.
Posted Thu, 17 Oct 2024 07:35:37 GMT by HMRC Admin 19 Response
Hi,
You need to convert your loss calculation to GBP steling, using just and reasonable exchange rates in use at the time of acquisition and disposal. The loss arising from the UK calculation can be claimed in the tax return.  
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
You can see 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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