dale scott

Some years ago I bought a house abroad which has recently been sold. The UK bank that sent my GBP to the local foreign bank charged a commission to send the funds. The foreign bank then charged to convert the GBP in my GBP account with them to local currency so the purchase could go be completed. After the property sale was completed the local bank used by our solicitor there charged the solicitor a transfer fee which was deducted from the proceeds which we wanted to send back to UK. The FX company used by both ourselves and the solicitor abroad also charged us a commission to convert the € back to GBP. Are any of the above three examples eligible as allowable costs in the computation of UK CGT liability. My guess is that the last one is not and probably not the second type either. However, without paying the first set of commissions I would not have been able to purchase the property so that cost is directly related to the acquisition of the property. "The expenditure must have been incurred wholly and exclusively for the purposes of the acquisition or disposal." Any guidance gratefully received. Thanks