USD based trading account - tax computations for the UK

[greengreenwood7]

Hi folks.

Anyone dealt with this issue - and if so how?

I've got a trading account that is purely denominated in $usd (and its based in the US). Their automatic tax software/system spits out a tax cert that's only relevant to the US - so am trying to find an easy'ish way of calculating CGt for HMRC ( as a uk resident ). Ideas??

[2ono]

I'm not completely sure how it works, but my accountant uses the HMRC rate at the date of transactions into my USD account when it comes to paying any tax due on investment income that I get, or interest earned, it might be different in my case though as I have a Lloyds International account based in Jersey.

[greengreenwood7]

thx for that, it wasn't so much the FX component - ie/ accounting for the $ into £sterling, but more aggragating the gains on trades that i'm thinking about.

[greengreenwood7]

great! thx for the linky - v.helpful :-)