Please help with the tax arrangement for gains from selling NYSE listed share. I am living in the UK?
Please help with the tax arrangement for gains from selling NYSE listed share. I am living in the UK?
I live in the UK for the last three years and own a NYSE listed share which I bought 3 years before. If I sell those shares, what would be the capital gains tax for those shares. Is there any specific treatment between US and the UK regarding tax arrangements in such conditions. Thanks for your help.
Answers:
One step down from God: OK you live in the UK and you're RESIDENT in the UK. (You may or may not have an American domicile.)
You declare the gain in the UK as it is taxable here. The gain is the sale proceeds less cost of the shares, less any indexation or taper relief due.
The double taxation agreement between the countries is not relevant.
2007-09-04 14:00:11
2007-09-04 14:00:11
Chosen Answer
Paul S: as far as im aware you declare it on the foreign income pages and the CGT pages of a tax return as normal. if any foreign tax has been deducted in the US of A, then this can be deducted against any tax due in the UK. I think USA tax is about 15% but they may not deduct any as you should just receive the proceeds.
2007-09-04 15:45:35
Paul S: as far as im aware you declare it on the foreign income pages and the CGT pages of a tax return as normal. if any foreign tax has been deducted in the US of A, then this can be deducted against any tax due in the UK. I think USA tax is about 15% but they may not deduct any as you should just receive the proceeds.
2007-09-04 15:45:35
vishu s: check this link its good
http://workathomeandearnmoney.blogspot.com/
.
2007-09-05 07:43:50
2007-09-05 07:43:50