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Posted Tue, 08 Mar 2022 11:30:19 GMT by Agger05
Hello, I am a new immigrant and moved to the UK last year. I had savings of different foreign currencies and I had transferred all of them to different foreign currency accounts of a local UK bank last year. I need to spend GBP as daily expenses so I will exchange my foreign currencies for GBP. Do I have to pay any tax (like CGT?) for each foreign exchange transactions? Thank you very much.
Posted Wed, 09 Mar 2022 13:34:00 GMT by HMRC Admin 17

Please see guidance here on wether this income needs to be reported for capital gains purposes:

Capital Gains Manual   .

Thank you.

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