Hope some one can help.
Does capital gains tax calculations take account of how you financed your foreign property investment ?
1.For example let say you bought property in UK with 100% sterling finance therefore no sterling exposure, your gain is calculated based on the exchange rate for the date of purchase and date of sale - straightforward.
2.Now let you say you bought and sold property in UK on the same days above with your own euro funds and exchange rate moves against you by 10%. Is the capital gain calculation the same as 1 above or is it reduced by your exchange loss ?
Finally in relation to off plan purchases is the transaction date for capital gains tax the completion date rather than the contract date.
Thanks
Green and Red