I have a client with a Sterling Deposit Account in the UK which is not held for personaly use. He put €100,000 into this account originally.
Will a chargable disposal for CGT arise in the following scenarios:
(a) Closes the account and transfers the sterling to another sterling bank account with a different bank in the UK or another EU country?
(b) Closes the bank account and transfers the sterling to a swizz francs account in the UK or another EU country?
While, converting the sterling back into euro would be a chargable event; I can’t seem to find any answer to the above.
As always, thanks for your help.