TeaJay92

Thanks Admin25 for confirming this. Just another question: 1. Under which asset class should CGT on gold bullion bought and sold via an online platform be reported? Thank you

Hi, I sold a foreign property on 23/01 in EUR and converted the amount to GBP on the date of the sale to calculate my gains. However, the amount in EUR was sent to me by my solicitor on 31/01 directly to my bank account in the UK and I realised a loss due to the UK bank exchange rate cost on that day (i.e. relative to the official FX conversion rate). Is that loss deductible from the overall gains made from the sale of the property on 23/01? Thank you

Hi, Are custody charges of gold bullion in an LBMA approved vault (i.e. monthly storage fees) deductible for the purpose of calculating CGT? Thank you

Hi Admin 19, the questions were cut of again: 1. Can I use the real time system to declare and pay minor amounts of tax on small gains made in 2022-2023 or is it too late and should I rather write directly to HMRC? 2. When using the Real time system to report CGT, do I still have to file a self assessment even though I do not have anything else to declare? what about when declaring a sale of overseas property? Thanks

Hi Admin 19, Thank you for your reply. The last 2 questions of my post were actually cut out so here they are: 5) I have not filed a self-assessment tax return for 2022-2023 and I believe I may have committed an error(s) when calculating the 2022-2023 capital gains (conversion to GBP at the times of acquisition) and may have a small amount of capital tax to pay (

Hi, I am a resident in the UK for tax purposes. I have accumulated a single asset investment over a long period of time, it is priced in EUR, linked to a foreign EUR bank account and held in a foreign country. My questions are the following: 1) Would I need to report any realised gains made from this investment in the foreign section of the self-assessment tax return? 2) Are any gains in GBP calculated based on the exchange rate on the day they were realised in EUR (i.e. by simply converting the realised gains in EUR to GBP on the day of sale, using the overall base cost in EUR)? 3) Or, do the gains in GBP have to be directly calculated using the overall base cost in GBP computed using the exchange rates on the date of each acquisition throughout the period in which this asset was accumulated (i.e. by substracting the gains in GBP at the date of the sale from the overall base cost in GBP computed at the date of each acquisition). 4) To compute the overall costs and gains in GBP, do I have to use the MONTHLY average exchange rates published by HMRC or can I use an online currency converter to convert the amounts DAYLY at the date of each acquisition/sale? 5) I have not filed a self-assessment tax return for 2022-2023 and I believe I may have committed an error(s) when calculating the 2022-2023 capital gains and may have a small amount of capital tax to pay (