About Cash instalment from Overseas

Dear Admin, Hope you are well. I am a UK Tax resident and moved to the UK from 2021 by BN(O) Visa. I am employed in the UK and my employer report my income to HMRC by PAYE. There's some unexpected expense before, but unfortunately I don't have any UK credit card, therefore I paid by my overseas (Hong Kong) credit card about £4000. Because I don't have enough cash flow (I have spent a lot for my home and my family), it's hard for me to clear the whole statement within a short period. I have my regular monthly expense by direct debit. I checked the online banking from my overseas credit card. They could offer cash instalments from the credit card to ease my expense . I guess they might transfer the amount to my overseas bank account and I could use this amount to clear that overseas credit card statement (If i decide to apply). Then I need to repay the cash instalments to the overseas credit card by monthly. I will pay or transfer the instalments by my UK income. But I am not sure if there's any taxes are involved and should I need to report to HMRC for this circumstance. Therefor I am writing to ask your advice before apply. Sorry it might be a little bit complicated and thanks for your help. Best Regards, Pongo

Hi Pongo,
We can only give general advice in this forum.
There is no Income Tax implication around your proposal, but there could be a capital gain implication.
Foreign currency is considered an asset and can give rise to a chargeable gain or an allowable loss.
This could be the case in your situation.
Please have a look here:
CG78300 - Foreign currency: introduction
Onwards.
Thank you. 

Dear admin, Understand and thanks for your advice. Best Regards, Pongo