Inheriting US shares

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?

Hi,

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

Thanks. But it's only the increase that's taxable, right? And what happens if a similar tax is witheld on the US side?

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.

But what if the US charges capital gains tax as well? Would we be double taxed (i.e. taxed by both governments)? Does it make any difference whether the gains are first deposited into a US banking account, then transfered to a UK bank account? Is it advisable for the gains to be paid directly to my UK bank account instead?

Hi,
You can claim a foriegn tax credit for up to 100% of the tax paid on the foreign gains. This prevents double taxation ocurring.
Thank you.