andy1

Many thanks for this feedback. All clear. One follow up question: - Is there a minimum amount of dividend that does not need to be disclosed when I am filling Self Assessment? For example, If I recieved £60 of dividends in a tax year (which is safely within dividend tax allowance), do I need to include this amount in my Self Assessment?

Thank you. Do I need to report cash transfer into Junior ISA account anywhere in my annual Self Assessment?

I'm planning to open Junior ISA for my son (10 years old) and transfer GBP 9000 into that account. Would this be considered a cash gift? Would there be any inheritance tax or any other tax implications for me or my son?

I'm using FX rate on the day of the transaction (acquisition and then diaposal). I can't find daily HMRC FX rates for 2022, so that i could select FX rate for the relevant day. Could you send the link to daily HMRC FX rates? If not, can I use daily FX rates published on Bank of England website?

I'm calculating capital gain from the sale of listed shares trading in foreign currency. For the purposes of capital gain calculation I understand that I need to convert sale proceeds into GBP at the exchange rate precisely on the date of disposal. Can I use exchange rates published on Bank of England website for this 

[Link removed = Admin]

Could pls revert on this? Let's use the same example: I bought shares trading in CHF for GBP 90 equivalent. I then sell the shares for CHF 110. Let's say BoE FX rate on the date of the sale was 1.1, so I use that FX rate to calculate capital gain from the sale of the shares: 110/1.1 minus 100 = GBP 10 capital gain. Then, 3 weeks later FX spot rate changed. I convert sale proceeds into GBP at 1.2 GBP/CHF FX rate. At this FX rate i made capital loss relative to the BoE FX rate I used in the calculations for capital gain from sale of shares: 110/1.2 minus 100 = - CHF 8.3 capital loss on FX conversion. Can I use capital loss I made on FX conversion to reduce / off-set capital gain from the sale of the shares? Would your answer change if instead of a capital loss on FX, it was an implied capital gain from FX conversion (i.e. when actual conversion into GBP is done at a better rate)? Would appreciate if you could give a concrete answer to this specific example.

If I understood correctly, the FX rate needs to be as of the date of the sale, right (the link that you suggeated doesn't unfortunately)? Do I then need to separately calculate capital gain or loss from FX conversion of CHF proceeds into GBP that I made 3 weeks later?

Pls revert on this question. Let's take a numerical example: I bought shares trading in CHF for GBP 90 equivalent. I then sell the shares for CHF 110. Then, 3 weeks later, I convert these proceeds into GBP at 1.1 GBP/CHF FX rate, thereby resulting in GBP 100. Can I use this FX rate in my capital gain calculations (even though there was a 3 week delay in conversion of proceeds into GBP)? I know that HMRC publishes monthly exchange rates that can be used, but it would make more sense to use the actual conversion rate. Let me know your thoughts

Do I understand correctly that there is no tax charged for simply transferring cash from my overseas cash account into my bank account in the UK?