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Foreign exchange to GBP

Sea9 See
Posted Fri, 01 Mar 2024 13:10:53 GMT by Sea9 See
If I have been a tax resident in the UK since April 2023, would my foreign exchange gain in August 2023 be taxable? For example, if I exchange USD to GBP. The purpose of the GBP would be to either make a fixed deposit in a bank or to purchase my second property.
HMRC Admin 8 Response
Posted Tue, 05 Mar 2024 08:32:47 GMT by HMRC Admin 8 Response
Hi,
For detailed guidance on the tax implications of converting foreign currency to GBP, please refer to CG78300.  
Thank you.

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