Calculate correct exchange rate on foreign capital gains sales gains for UK residents

Support Questions
1

Hello, just started with Capitally and I am so very impressed with everything you have here, thank you.:grinning_face:

Is there a way to modify the exchange rate displayed on sales of stock so that it reflects UK tax legislation:

For capital gains tax purposes, the base cost of an asset acquired using foreign currency is determined by converting the price into sterling at the spot rate on the date of acquisition. Similarly, proceeds are determined by converting into sterling at the spot rate on the date of disposal. (Deloitte tax web site).

Right now it seems to be using the date of disposal exchange rate so there is a discrepancy.

thank you

2

Hello Polu, all FX conversions are done using the spot rate at the date of transaction, so it should be already what you’re asking for.

If there’s a discrepancy, can you share some more details, so I can understand the issue better?

3

Hi Rafal, I believe you are correct, I’ve looked at 3 different transactions and all three happen to be in in a range that is so close that i erred thinking it was incorrect, apologies:

transaction.date calculated USD/GBP Official closed on date excel date
21/11/2024 14:00 0.794533609 0.7943 -0.0002336 21/11/2024
27/02/2025 15:59 0.793839803 0.7951 0.0012602 27/02/2025
transaction.date calculated USD/GBP Official closed on date excel date
28/04/2023 07:38 0.79541839 0.7958 -0.0002336 28/04/2023
28/02/2025 06:25 0.795102171 0.7951 0.0012602 28/02/2025

what is odd now is that the site i checked seems to have “official closed time” but the excel and you have it from somewhere else - I checked https://www.poundsterlinglive.com/history/USD-GBP-2024

anyway, the more time i spend with your creation, the more impressed I am. thank you!

Polu.

4

No problem, tracking all this can make your head spin easily…

As for FX rates - there are many many sources you can get them from. The only official one may come from a central bank - we currently have European and Polish Central Bank rates.