CG12622 - Exemptions: foreign currency for personal expenditure

TCGA92/S269

No chargeable gain arises on the disposal by an individual of currency acquired by him for the personal expenditure outside the United Kingdom of himself or his family or dependents. This includes expenditure on the provision or maintenance of any residence outside the United Kingdom. Apart from this, currency (which includes foreign currency banknotes and foreign travellers' cheques) is a chargeable asset, see CG78300+.

TCGA92/S271 (4)

Terminal bonuses payable under certified contractual savings schemes run by

• the Department for National Savings, or
• trustee savings banks, or
• building societies, are exempt for capital gains purposes, see AP1092.