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Posted Tue, 30 Jan 2024 09:57:17 GMT by Winnie
Hi, Being a UK non-domicile, do I need to pay tax on the gains when selling shares of a UK based company? Thanks
Posted Thu, 01 Feb 2024 12:12:45 GMT by HMRC Admin 2 Response
Hi,

Yes, UK based shares are taxable in the UK, even if you are not domiciled.  

If the gains exceed £6000 in the tax year, they should be reported using the real time capital gains service before 31 December after the end of the tax year, or on a Self Assessment tax return.

Report and pay your Capital Gains Tax

Thank you.
 
Posted Thu, 01 Feb 2024 12:50:48 GMT by Winnie
Hi, Thanks for your reply but it seems to contradict what I have read in the page of CGT on the gov.uk : https://www.gov.uk/capital-gains-tax/what-you-pay-it-on#:~:text=If%20you%27re%20abroad,within%205%20years%20of%20leaving. It says on this page: "If you’re abroad You have to pay tax on gains you make on property and land in the UK even if you’re non-resident for tax purposes. You do not pay Capital Gains Tax on other UK assets, for example shares in UK companies, unless you return to the UK within 5 years of leaving."
Posted Fri, 02 Feb 2024 14:18:17 GMT by HMRC Admin 2 Response
Hi,

That is not the same scenario as you indicated. You stated you are UK resident but non domiciled.

That means you are in the UK and not abroad. as such, any UK income needs to be declared.

Thank you.
Posted Fri, 02 Feb 2024 14:31:23 GMT by Winnie
Sorry for the confusion. So for someone who is not living in the UK and has not been living in the UK for more than 10 years, there is no CGT for selling shares of UK company as mentioned on the page on the gov.uk?
Posted Tue, 06 Feb 2024 14:48:30 GMT by HMRC Admin 5 Response
Hi Winnie

As a non UK resident, you would only be subject to Capital Gains tax on the disposal of UK shares, if you returned to the UK within 5 years of leaving the UK.

Thank you
 

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