Maggie Wong
Joined: 11/21/2022
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RE: Exchange rate calculation on overseas property sale
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Foreign currency exchange rate
Dear Sir/Madam, May I know if HRMC has guideline on using the (1) monthly rate, (2) average rate and (3) spot rate when calculating the foreign currency conversion in tax return? Thanks and regards, Maggie -
Loss in time deposit
Dear sir, I have a couples of time deposit made in the UK and one of them encountered a loss. How do I report the loss in interest (untaxed)? (1) The time deposit is a loss because I stop it before its maturity. No interest earned, and I have to pay a fee to the bank for ending the time deposit earlier. (2) The other time deposits give me interests at maturity as planned. Should I deduct the fee in (1) from my total interest earning when filling untaxed UK interest? Thanks and regards, Maggie