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Posted Thu, 23 Nov 2023 17:09:43 GMT by Michael Burley
I use FX hedging within an investment portfolio. As each FX-contract comes to maturity the hedging P&L is effectively realised every 3 months. However the counter P&L on the foreign investments is not realised at the same time, and may not be realised for many years. How should I report the P&L on self-assessment, where a realised FX gain should really correspond to an unrealised investment loss (or vice-versa, where a realised FX loss should correspond to an unrealised investment gain)? Thanks
Posted Tue, 28 Nov 2023 09:49:03 GMT by HMRC Admin 32

Please refer to guidance at:

CFM61000 - Foreign exchange: tax rules on exchange gains and losses

Thank you.

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