Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Mon, 28 Jun 2021 08:01:33 GMT by HMRC Admin 9
Hi, 

HMRC does not offer financial planning advice and cannot give definite answers to hypothetical situations. Advice on Capital Gains and share can be found here:

Shares and Capital Gains Tax (Self Assessment helpsheet HS284)

CG50200C - Capital Gains Manual


The same rules apply for foreign shares apart from the fact the amount held in the foreign account need to be converted to Sterling:



Thank you. 
Posted Mon, 28 Jun 2021 11:23:10 GMT by LdnUser9999
Hi. Thanks for the reply. The links do not answer the question about how the foreign currency in the brokerage account (held as USD cash) is handled in terms of taxation. Please can you offer guidance here? Thanks
Posted Tue, 29 Jun 2021 08:33:12 GMT by HMRC Admin 9
Hi, 

If your enquiry is regarding foreign stocks and shares see guidance below:

Shares and Capital Gains Tax (Self Assessment helpsheet HS284)

CG50200C - Capital Gains Manual: Shares and Securities


For further guidance please contact HMRC:

Self Assessment: general enquiries

Thank you. 
 
Posted Tue, 29 Jun 2021 09:48:46 GMT by LdnUser9999
The main point of the question was about the handling of foreign currency, not about the foreign shares. To put the question another way. - If I covert GBP to USD and hold the USD cash in a brokerage account, and if I make a profit on this (due to USD currency gain) when I convert it back into GBP, do I have to pay capital gains tax? - If I hold the same foreign currency (USD) in a bank account (rather than a brokerage account), and make a profit on this when I convert it back into GBP, do I have to pay capital gains tax? Thank you.
Posted Thu, 01 Jul 2021 07:43:59 GMT by HMRC Admin 9
Hi, 

If you are unable to find the answer in the links provided please contact the helpline:

Self Assessment: general enquiries

Thank you. 

You must be signed in to post in this forum.