In general terms, a charge to UK capital gains tax arises when a chargeable person (which includes individuals) makes a chargeable disposal of a chargeable asset. The disposal may produce a profit (known as a gain) or a loss. For the principles of UK capital gains tax, see UK1.3.2. The commentary below assumes familiarity with these concepts.
Sterling is not a chargeable asset for UK capital gains tax purposes, so it cannot give rise to a gain or loss
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