Russ
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RE: How to get HMRC app Access Code on new phone (QR Code)
Same problem here. Can't get access code as have a new phone, so can't log on to generate QR code. If I follow "change how i get my access code" the only option is to call, and that takes you through several menus before telling you they can't take the call now and hang up -
RE: Currency exchange on capital gain in foreign currency to Sterling
Hi Thank you for the clear response, which I believe agrees with the response received by the previous poster in this thread, in that no further capital gain / loss applied on any exchange of funds at a later date. Many thanks -
RE: Foreign income declaration reporting
Thanks, that's clear -
RE: Currency exchange on capital gain in foreign currency to Sterling
Hi Thanks for the link, but forgive me, I wonder if you could provide some guidance to which section(s) within that link I might find the relevant information that will provide the guidance I seek please, as there appear to be a huge volume of documents? I’ve looked through the CGT summary notes, several section of the CGT manual (valuation of shares, etc) and cannot locate anything that provides answers I seek. thanks -
Foreign income declaration reporting
Dear HMRC I have foreign income to declare from a 401K. The funds were received in my UK bank account in March 2021-22 tax year. My circumstances have changed such that it may now be beneficial to report part of the payment in the 2022-23 tax year. Question – is it acceptable to split part of that foreign income over two tax years, or must it be declared in the tax year that the funds were actually received in the UK? thanks -
RE: Currency exchange on capital gain in foreign currency to Sterling
Dear HMRC I have a similar question, (perhaps even the same, so apologies if so). I have traded stocks in USD in the past, by converting GBP to USD at the rate provided by the broker. When selling the stocks I did not convert to GBP, but left the funds in USD in order to trade again, and have calculated any gain / loss reported based upon HMRC monthly rates when disposing of the stock I have since needed to exchange my USD funds to GBP. Questions • Do I now need to calculate any gain / loss on the funds previously used for trading and reported for each trade when now exchanged to GBP? • If yes, how should the gain / loss be calculated. Ie. How should the ex rate from GBP to USD be calculated, where the original conversion from GBP to USD was across more than one trade? • Is any loss due to exchange rate able to be offset against potential gains in stock? Thanks in advance.