taxabc

In my 2023/2024 self assessment reporting, i will convert the Interest and Other Income from Overseas Savings to GBP using the March 2024 Average Exchange Rates (UK Integrated Online Tariff), which is a single rate 1Apr2023 to 31Mar2024 for each overseas currency. All transactions to be reported took place in 2023/2024. There was no actual foreign currency exchange. Please advise whether the treatment is correct or not.

In 2023/24, my family member was given USD200 cash in his USD interest bearing account with a broker firm, being gift for referring me to open account with the firm a year ago. He only made one referral. He will report this one off receipt in his self assessment under 'Interest and Other Income from Overseas Savings', converted to GBP using monthly average exchange rate in the month of receipt, together with the interest income and income received from US Treasury Bills held to maturity in that account. Please advise whether the treatment is correct or not.

I was given USD1000 worth of shares in 2023/24, as gift after maintaining an account with a broker firm for a year. The shares have not been sold yet. I suppose the following treatment will apply when the shares are disposed in future: Capital gain will be reported in self assessment in the year of disposal = (USD sales proceeds received less Cost at zero) converted to GBP with monthly average rate in month of disposal. Please advise whether this is correct or not.

In 2023/24, I bought some US Treasury Notes from my USD cash account and held to maturity. I will report in my self assessment as Income from Savings: (USD receipt on maturity - USD costs) x conversion rate USD to GBP in month of receipt. Please advise whether the treatment is correct or not.

For Self Assessment, should I convert the USD saving income month by month, using the Official HMRC Foreign Exchange Monthly rates?