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Hi HMRC, I would like to clarify my question as follows: Please refer to below 5 foreign currency deals. I would like to calculate the GBP capital gain for the two sell trades done on 27 Jan 2023 but not sure how to do that. What is the mechanism to match the buy and sell deals so that the gain be calculated? Deal no. 1. 8 July 2022 Buy GBP10000 sell USD @ 1.19 (USD 11900) 2. 27 Jan 2023 Buy GBP10000 sell USD @1.22 (USD12200) 3. 27 Jan 2023 Sell GBP10000 buy USD @1.24 (USD12400) 4. 27 Jan 2023 Sell GBP10000 buy USD @1.24 (USD12400) 5. 31 Jan 2023 Buy GBP10000 sell USD@1.23 (USD12300) I suppose the calculation as: - same day matching, that is to match sell deal no. 3 against buy deal no.2 . So the gain is USD200 (then use average yearly rate to calculate the gain in GBP) - for the sell deal no.4 , shall it be matched against the buy deal no.1 or buy deal no. 5 to calculate the gain on disposal of GBP10000? Will bed and breakfast rule/ section 104 holding be applicable in this type of buy and sell currency transactions? Or in fact can I just match sell deal no.4 with buy deal no. 1 based on my own preference? Would appreciate your guidance on calculation for this. Thank you!

Hi HMRC I bought and sold USD against GBP in different foreign exchange rates a few times per month for the tax year 22/23. For calculation of the capital gain of these foreign exchange trade deals, can I: 1. match the buy and sell deal and calculate the gain based on my own preferred selection ? Or 2. Is the matching mechanism of "same day/ bed and breakfast rule / section 104 holding" applied to "foreign exchange" capital gains also? Thanks for your reply in advance!

Hi, In order to simplify my CGT calculations, I will not prefer to use monthly or spot rates. My understanding is that I can either use the “average annual 2022 Dec” or “average annual 2023 Mar” for all the calculations involving buy or sell. Is that right? Thanks!

Hi, I would like to know: 1. Bed and breakfast rule. Transactions for example: Buy 100 ABC shares on 1 Mar Buy 100 ABC shares on 2 Mar Sell 200 ABC shares on 2 Mar Buy 100 ABC shares on 3 Mar Sell 100 ABC shares on 3 Mar Buy 100 ABC shares on 6 Mar For the sell 200 ABC shares on 2 Mar, shall it be set off the purchase against (1) 100 shares on 2 Mar (same day) and 100 shares on 6 Mar (bed and breakfast)? Or (2) 100 shares on 2 Mar (same day) and 100 shares on 3 Mar (bed and breakfast)? If scenario (1) is correct, is it because same day "buy and sell" on 3 Mar is always set off against each other first? 2. CGT computation sheet Can I group all the disposals of the same US share (Eg. META) on the same day as "a single disposal" and mark in the excel computation spreadsheet and compute the gain/ loss as "single entry"? So which means even if I have sold a few times of same share with different share price every day in a month, there will only be approximate 20-23 disposable transactions listed in the spreadsheet as supporting document for the CGT. Thanks!

Hi, I have purchased and sold some US shares from April 2022 to March 2023 with sales proceeds in USD. Can I use any of the following exchange rates method to calculate the capital gain/ loss for all the transactions during that period? 1. HMRC exchange rates for 2022 - monthly (the month when the purchase/ sell transaction occurred) 2. HMRC yearly average to 31 Dec 2022 (which was GBP:USD 1.249458) 3. HMRC year average for the year to 31 Mar 2023 (not yet post in HMRC) Thanks!