TaxBullUK capital gains tax

HMRC exchange rates for 2020

12 months are held for 2020. Open a month for its rates. Each rate is currency units per £1, so sterling is the foreign amount divided by the rate.

What these rates are

HMRC publish one rate per currency per calendar month, for customs and VAT. This calculator uses them for every foreign trade, on the acquisition and on the disposal, at the rate for the month each one was made.

HMRC do not prescribe which exchange rate you use. CG78310 expects a reasonable and consistent method, and the monthly rate is the method this calculator applies to every trade. What CG78310 does settle is the date: sterling worth is taken at the date of the acquisition or disposal (Bentley v Pike, Capcount Trading v Evans). A broker's own rate and a market feed are neither published nor consistent, so this site never reads one.

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