CG25391 - Remittance basis: gains to be computed in Sterling

Sterling is the currency in which capital gains computations are carried out (see Bentley v Pike, (53TC590) and Capcount Trading v Evans (65TC545)). You should therefore carry out a computation of the gain arising on the disposal of the foreign assets in sterling. Where transactions take place in foreign currency you should convert each separate entry for the computation into sterling using the spot rate applying at the date that part of the transaction occurred.