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Hello! I have a couple of questions about excange rates for Capital Gain calculations. My situation as follows: 1. I received USD in 2020 from sale of some assets in USD ( appropariate exchange rate was used to declare conversion of USD/GBP at the time for tax calculations) 2. I used thiese US Dollars (aquired in 2020) to purchase shares in 2021 3. I sold the shares in 2023 4. I partially converted USD into GBP in 2023 and rest of the money was left in USD. I have a couple of questions regarding my capital gans calculations: 1. Can I use the exchange rate USD/GBP for 2020 (when I actually aquired USD and not when I bought the shares, using these USD) to calculate the purchase price of shares in GBP? 2. When I sold the shares in 2023, I made a partial conversion of my USD to GBP. Can I use actual conversion rates for the converted amount and a spot rate for the remaining amount (which was not converted to GBP.) ? Thank you in advance for your help!

Hello! I have a couple of questions about excange rates for Capital Gain calculations. My situation as follows: 1. I received USD in 2020 from sale of some assets in USD ( appropariate exchange rate was used to declare conversion of USD/GBP at the time for tax calculations) 2. I used thiese US Dollars (aquired in 2020) to purchase shares in 2021 3. I sold the shares in 2023 4. I partially converted USD into GBP in 2023 and rest of the money was left in USD. I have a couple of questions regarding my capital gans calculations: 1. Can I use the exchange rate USD/GBP for 2020 (when I actually aquired USD and not when I bought the shares, using these USD) to calculate the purchase price of shares in GBP? 2. When I sold the shares in 2023, I made a partial conversion of my USD to GBP. Can I use actual conversion rates for the converted amount and a spot rate for the remaining amount (which was not converted to GBP.) ? Thank you in advance for your help!

Thank you very much for your response. I would like to clarify: My first letting contract will be a one year buy-to-let contract. As this does not exceed one year (as mentioned in the document above), I believe that my valuation fees that the mortgage company charged me to offer a mortgage will become a deductible expense. Is this correct understanding? Thank you very much in advance for your help!

Hello team, could you please help with the following question: are solicitor’s ’ fees for purchasing a buy -to-let property a tax deductible expense? Thanks!

Hello! team, I have a question regarding property valuation fees . When I applied for a Buy to let mortgage, I had to pay a valuation fees to get a mortgage. I understand that this is a deductible expense. (Could you please confirm?) Could you please let me know where to put it in my tax return: Do I submit it as a general expense or as a part of finance cost? Thank you!

Hello! Could you please help me with my questions: I bought shares in US dollars and when I sold them I did not convert these into UK £. I took an average exchange rate to calculate my tax return. I kept US dollars until the next tax year. Next year, I exchanged US dollars to UK £ with a loss (comparing to the rate that I declared on my tax return previous year. ) Can I take into account this loss in my tax return this year? How to fill it in? Thanks in advance for your help!

Hello! I brought forward a loss in my UK rental property business from the previous year.. This year I made a profit. I have a couple of questions: 1. Do I have to use the full loss from the previous year or I can only use that loss partially to bring my profit below taxable allowance and the rest of loss carry forward? 2. Do I have to use the loss that I brought forward from previous years in full before I use my finance costs?