Changes to the U.K.s remittance basis of taxation have focused attention on the appropriate exchange rate that should be used for converting foreign income into sterling for U.K. tax purposes. Save for the narrowly drawn exemption, foreign-currency bank accounts are a chargeable asset for U.K. capital gains tax purposes. This means that potentially any purchases made from, and transfers between, foreign bank accounts may lead to capital gains or losses for U.K. tax purposes. The concession allowed U.K.-domiciled individuals to treat multiple bank accounts in the same foreign currency as a single account with the result that transfers between an individuals accounts would not be treated as a disposal of foreign currency for capital gains tax CGT purposes.