Foreign Currency Bank Accounts3 April 2012UK taxpayers who hold foreign currency bank accounts, other than for the purpose of providing spending money whilst overseas, will be subject to new tax rules effective from 6 April 2012. In broad terms, gains will no longer be chargeable to tax. In addition a loss will no longer be an allowable loss for tax purposes. This gives rise to some planning opportunities, and we would like to discuss these with you. Please contact your usual Chancery adviser on 01908 699600. |
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Chancery aims to add wealth through tax minimisation
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The guidance and advice contained within this website are subject to the UK regulatory regime, and are therefore targeted at consumers based in the UK.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE TAXATION ADVICE AND ACCOUNTANCY PRACTICES.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE TAXATION ADVICE AND ACCOUNTANCY PRACTICES.