Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Wed, 07 Feb 2024 11:25:17 GMT by
I inherited some shares in the US worth around $100,000. Assuming I have a W8-BEN form in place, what are the tax implications in the US and the UK) for liquidating the shares and transferring the money to my UK bank account?
Posted Fri, 09 Feb 2024 13:49:13 GMT by HMRC Admin 19

This would be seen as a capital gain if they are sold for more than the $100,000. You can see guidance here:

Tax when you sell shares

Thank you
Posted Fri, 09 Feb 2024 14:12:02 GMT by
Thanks. But it's only the increase that's taxable, right? And what happens if a similar tax is witheld on the US side?
Posted Wed, 14 Feb 2024 09:01:28 GMT by HMRC Admin 21
Hi Barnaby2024,
The disposal of the shares minus on the market value of the at the time of inheritance will result in either a gain or a loss.  The gain will be subject to capital gains tax.
Thank you.

You must be signed in to post in this forum.