CGT on foreign shares

TJ666

I have some foreign shares to sell, which incurs fx costs to change to GBP and potentially to move from a USD to GBP bank account.  Are such costs allowable costs, so can be removed from capital gains liability ?  I note there is a judgement that the "amount of foreign currency must be converted into its sterling value at the time the amount is incurred".  I guess this means you shouldn't hang around to change into GBP, the exchange rate at time of sale will be used.  

Thank you

eskbanker

I could be wrong but don't see why FX costs would be allowable - it's not as if you have to convert the proceeds or move them.

The USD values should be converted to GBP equivalents using the same exchange rate method for both the acquisition and the disposal.

TJ666

eskbanker said:

I could be wrong but don't see why FX costs would be allowable - it's not as if you have to convert the proceeds or move them.

The USD values should be converted to GBP equivalents using the same exchange rate method for both the acquisition and the disposal.

They were awarded as a workplace benefit, so for acquisition I was going to use the inferred fx rate at the time of vesting (HMRC taxed them when they were vested).  For sale , I was going to use the actual value received after transfer to GBP (although from what you say I should probably use a standard fx rate off the internet).  I aim to be under the CGT allowance, so hopefully won't make a real difference, but useful to know if I end up tight up against the annual allowances).  I did try to use the HMRC chat - the bot was useless, but I couldn't get through to a person on a chat session.