We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Capital gains on USD loss or GBP gain?
beeza650
Posts: 197 Forumite
in Cutting tax
I had some share options in a US company. I bought the shares in USD, paid the tax to my employer in USD, sold in USD etc etc and made a USD loss.
All the currency conversions were done by myself using Wise.
Whilst the shares fell in value so did GBP against USD and I actually ended up making a personal gain because of that.
My guess is I pay CGT tax on that gain and that the USD loss doesn't factor?
Thoughts please. Thanks
All the currency conversions were done by myself using Wise.
Whilst the shares fell in value so did GBP against USD and I actually ended up making a personal gain because of that.
My guess is I pay CGT tax on that gain and that the USD loss doesn't factor?
Thoughts please. Thanks
0
Comments
-
Are we talking about a U.K. gain in excess of 12300?0
-
no, but I have other gains so it may be a concern overall[Deleted User] said:Are we talking about a U.K. gain in excess of 12300?0 -
You are correct in that the dollar loss is irrelevant. You have to convert the acquisition cost into sterling at the date of acquisition, and the sale proceeds into sterling at the date of sale.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 348.6K Banking & Borrowing
- 252.2K Reduce Debt & Boost Income
- 452.5K Spending & Discounts
- 241.3K Work, Benefits & Business
- 617.8K Mortgages, Homes & Bills
- 175.8K Life & Family
- 254.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards