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Calculating CGT for shares acquired while non-resident

Calculating CGT for shares acquired while non...

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What is the cost-basis used to calculate the capital gains tax payable to the UK for someone who has acquired those shares before they took up UK residence?

Some assumptions about the question:

I have never been resident in the UK and am taking up residence in the current year on 1st of April.
I have acquired public shares in different UK and non-UK companies.
Some shares have an unrealized gain and some have an unrealized loss based on the acquisition price.

If i dispose of the shares with gains in the year of taking up residence, or in the subsequent years, would the price used to calculate the CGT payable be the price at which the shares were acquired (while non-resident) or the price at which the shares were on the day of taking up UK residence?

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By Portia Nina Levin
17th Feb 2016 11:56

Original cost (or March 1982 value if acquired earlier than that). Paying for professional advice before becoming UK resident would be sensible.

If you are a US citizen (just a guess based on your spelling of the word "realised"), there are firm in the UK that specialise in US/UK tax.

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By Expat24
17th Feb 2016 12:28

Remittance basis

may be of interest as you have overseas share holdings but it depends on the amounts and your  situation re levels of other income/gains.

Get professional advice otherwise you could be losing out on significant tax benefits for non-doms coming to the UK.  Getting expatriate tax planning advice via a forum will probably end up costing you more money in the end, than paying a fee for correct advice at the outset!

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