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Section 252: Foreign currency bank accounts.

Taxation of Chargeable Gains Act 1992 · 1992 c. 12View on legislation.gov.uk

Part VII: Other property, businesses, investments etc.

Section 251(1) does not apply in relation to a gain accruing to a person on a disposal of a foreign currency debt (or an interest in such a debt) unless that person is—

an individual,
the trustees of a settlement, or
the personal representatives of a deceased person.

A "foreign currency debt" is a debt—

owed by a bank in a currency other than sterling, and
represented by a sum standing to the credit of an account-holder in an account in that bank.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.