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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Convert at spot rate

The figure of capital gains that you convert in this way may be a figure that you have had to trace through a number of reinvestments and other transactions, see CG25350 above. It may also include gains arising on the disposal of foreign currency, either when that currency is exchanged for Sterling or when it is exchanged for another asset.