# Taxation of Chargeable Gains Act 1992, Section 252: Foreign currency bank accounts.

Extent: E+W+S+N.I.

(1) 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—
(a) an individual,
(b) the trustees of a settlement, or
(c) the personal representatives of a deceased person.
(2) A “foreign currency debt” is a debt—
(a) owed by a bank in a currency other than sterling, and
(b) represented by a sum standing to the credit of an account-holder in an account in that bank.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/section/252 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-252
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.