art x

Hello HMRC, thanks for running this community. I would like to clarify the interpretation of CG78321 - Foreign currency: foreign currency bank accounts - periods from 6 April 2012 rules. I have my savings earned before I moved to the U.K. and became a resident. These savings are deposited in a USD currency account at a high-street bank outside the U.K. No interest rate is accruing. Could you please confirm or deny that the following operations don't incur any capital gains tax, no matter of exchange rates, due to CG78321 regulation. 1. I am converting my USD to GBP in a foreign bank and then transferring to a U.K. bank. 2. I am transferring my USD savings from my foreign bank account outside the U.K. to a not-a-bank-yet Electronic Money Institution (EMI) and then converting my USD to GBP. 3. I am transferring my USD savings from my foreign bank account outside the U.K. to a real high-street U.K. bank and then converting them to GBP. 4. I am transferring my USD savings from my foreign bank and/or U.K. USD bank account to a broker institution in the U.K.  and some time later exchange (sell) USD to (buy) GBP in using one or multiple USD->GBP FX orders without trading USD <-> GBP back and forth.

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