What happens if you withdraw valuable euros now? Back on 5 April 2012 the law said that you had to pay capital gains tax on the foreign exchange gains in bank accounts. Thankfully, the following day new rules came in which exempted gains (and losses) on bank accounts holding foreign currency.
It’s important to understand the new rules, and their implications for your portfolio strategies. And it’s vital that your ownership structures take account of the risks, while being as tax efficient as possible.