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Thanks for your reply. I tried clicking to the above link but cannot find the HMRC currency exchange average rates. Can I choose to use the monthly or average yearly currency conversion rate listed in the HMRC link "https://www.trade-tariff.service.gov.uk/exchange_rates" and "https://www.trade-tariff.service.gov.uk/exchange_rates/average" ? Thanks.

Thanks for your reply. I have read the HS343 Accrued Income Scheme in the above link, and have the below follow-up questions: 1. Refer to “8.1 Example 3” in the HS343, I sell rest of my holding on 3 Apr 2023, this example seems refer to the interest of selling the security was to be received on 30 Jun 2023. What if the accrued interest of selling the security was received on the sale date i.e. 3 Apr 2023? Is it true that I need to report the interest in the tax year 2022-2023 instead of 2023-2024? (NB: this is the case when I sold US Treasury note or bond with non-zero coupon in secondary market using a broker account, the accrued interest was received on the date of selling instead of the next coupon payment date). 2. In section 7.1, it stated “If you’ve paid or received amounts in a foreign currency, you should translate them into sterling at the spot rate of exchange for the day on which your sale or purchase of the security was settled.” Where can I find this “spot rate of exchange” ? Can I use the HMRC’s monthly or average yearly exchange rate? Thanks.

I bought US Treasury Bonds with half yearly coupon in secondary market using a broker account. When buying the bond, “accrued interest” (USD X1) will be paid (i.e. the part of the coupon paid to the seller of bond). Coupon will then be received half-yearly (USD Y1). If the buying date and the coupon receiving date of the bond is in different tax years (e.g. buying bond date is July 2023, and coupon date is 30 Apr 2024), please advise whether all below (i) and (ii) and (iii) are correct: (i) no need to report the negative accrued interest in tax year 2023-2024 when buying the bond (ii) report the “bond interest” in the tax year 2024-2025 (i.e. the tax year in which coupon is received) calculated by below. (ii) convert the accrued interest paid during buy USD X1 to GBP X2 (can select HMRC’s monthly or yearly average rates) convert the coupon USD Y1 to GBP Y2 (can select HMRC’s monthly or yearly average rates) report the bond interest amount by subtracting GBP X2 from GBP Y2 (i.e. bond interest received = GBP Y2 - GBP X2) Thanks.

I have below two questions related to interest from buying US Treasury Bill (Zero coupon) and wait for maturity: Q1: when calculating the interest received by buying a US Treasury Bill (zero coupon) and wait for maturity, which one of the below is correct? (a) do we need to convert both the buying price and maturity price from USD to GBP individually (using USD.GPB currency conversion rates) to calculate the differences? Or (b) calculate the differences of buying price and maturity price in USD, then convert to GBP at maturity date? Q2: for buying a US treasury bill (zero coupon) at 2 different times and sell part of this bill and the rest wait for matured, which one of the below is correct when calculating the interest of the part wait for maturity? (a) to use the Section 104 pool price in GBP to calculate the interest part of waiting for maturity? or (b) use the average buying price in USD to calculate the interest then convert from USD to GBP at maturity date? Thanks.

Please ignore my above message. All clear now. Thanks.

I would take the above reply as a "Yes" to my question posted above related to whether I can mix the use of the rates of the links provided. Please correct me if I am wrong.

So, is it true that I can mix the use of the rates in the above links in the same tax year when reporting using Self Assessment? (Refer to my question 2 above). Thanks.

HMRC has currency exchange rates for (i) monthly rate (ii) average yearly rate published on 31 Mar (iii) average yearly rate published on 31 Dec I bought and sold several overseas securities for several times in a tax year, and need to file Capital Gain Please advise which of the below, 1 or 2, is correct? 1. I can choose only one of the (i), (ii) or (iii) above to calculate the purchase prices and disposal prices for a tax year, OR 2. I can mix and use any of the (i), (ii) or (iii) above for each individual purchase price and disposal price in the same tax year. (i.e. use (i) for calculating the purchase price of one security, and (ii) for calculating the selling price of the same security, when reporting CG in the same tax year.) Also, is there any guidelines for using the (i) and (ii) and (iii) above for calculating and reporting CG ? Thanks.

I filed the tax return for tax year 2022-2023, for both income and capital gain, using the online Self-Assessment System. I then paid the tax accordingly. Recently I found some mistakes of the Capital Gain part in this filed return (incorrect currency conversion rates were used to calculate the gains and purchased prices). Please advise: am I able to amend the filed tax return of 2022-2023 (the part of Capital Gain) by using the online Self-Assessment system? Thanks.

I bought and sold US stock using my US dollar saving. When reporting Capital Gain, please advise: 1. I can use the HMRC's monthly currency conversion rate at the selling date to calculate the purchasing price / disposal proceed / gain in Sterling? or 2. I need to use the HMRC's monthly currency conversion rate at the purchasing date to calculate the purchasing price, and use the monthly currency conversion rate at the selling date to calculate the disposal proceed? Please advise whether both are acceptable? or if not, which one should be used?