Skip to main content

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

Posted Tue, 23 Apr 2024 22:13:58 GMT by fariswahid
I am a UK resident and taxpayer. I invested around £100,000 in shares in France around 4 years ago. It looks like when sold next year they will be worth somewhere from £500,000 to £1 million. What is the tax that will be payable to return the funds to the UK? Thanks Faris
Posted Tue, 30 Apr 2024 14:47:15 GMT by HMRC Admin 5 Response
Hi

You will need to obtain their acquisition cost in pounds sterling at the time you acquried the shares.  
You will also need to convert the disposal value into pounds sterling using a just and reasonable exchange rate at the time of disposal.  
When all costs are in pounds sterling you can subtract the acquisiton costs and brokers fees, as well and the disposal costs, such as brokers fees from the disposal value.  
The different is then a gain, which you will need to report in a self assessment tax return (SA100) on SA108 and if foreign tax paid on the gain (SA106) where you can claim acredit of up to 100% of the foreign tax paid.
 This will prevent you from paying the same tax twice and avoid double taxation.

Thank you

You must be signed in to post in this forum.