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Posted Fri, 13 Dec 2024 23:46:27 GMT by Calvin
Hi, my family and I relocated to the UK at the end of July 2024. As I understand it, you become a tax resident in the UK after residing there for 183 days. If I sell my current stocks at the end of December 2024, will I need to pay Capital Gains Tax (CGT) on the profits? Since in December 2024, I still haven't reach 183 days of residence and am not yet considered a tax resident, I am unsure whether I am liable for this tax.
Posted Fri, 20 Dec 2024 13:13:43 GMT by HMRC Admin 32 Response
Hi,
Your status is based on the actual tax year and as you arrived in July 2024, you would be classed as UK resident for 2024 to 2025 as you would be here for more than 183 days by 5 April 2025 and as such any disposal will need to be reported and any potential Capital Gains Tax paid.
Thank you.

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