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Posted Fri, 14 Jul 2023 12:08:19 GMT by An An
I got a promotional rebate and two remit rebates of GBP140 in total from the bank overseas, it was because I have made some currency exchange and transferred from my overseas account to my UK account. Do I need to add this GBP140 as my income when I am considering if I need to submit self assessment return? If yes, should I add it to "income from dividends and savings"? Thanks.
Posted Thu, 20 Jul 2023 07:22:40 GMT by HMRC Admin 8 Response
Hi,
Currency other than pounds sterling is a chargeable assess and it's disposal can give rise to a capital gain or an allowable loss.  
There is an exemption where the currency exchange was for personal expenditure outside of the UK:
Capital Gains Manual
In the current tax year, the annual exempt allowance for capital gains is £6000.00, so if the total gains in the tax year are below this sum, they do not need to be reported.
Thank you.

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