Hello,
I have a client who received shares as part of a share option scheme from their employer. The shares are listed on NASDAQ.
If these options were exercised in 2010 and sold in 2021 (21/22) when working out the chargeable gain should I:
1. Calculate the gain in the foreign currency and then convert at HMRC's rate in 2021; or
2. Convert the acquisition cost into GBP at 2010's rate and convert the proceeds at the 2021 rate and then calculate the gain?
I think option two is the correct way to proceed based on the following but would be happy to receive any input: www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg78310
Thank you.
Replies (10)
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No idea either ... initially thought it might be (but that would be unkind):
"You are old, Father William," the young man said,
"And your hair has become very white;
And yet you incessantly stand on your head-
Do you think, at your age, it is right?"
"In my youth," Father William replied to his son,
"I feared it might injure the brain;
But, now that I'm perfectly sure I have none,
Why, I do it again and again."
I have the white hair but no chance these days that I could stand on my head.
The only part that really fits is probably the third line of the second stanza.