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Posted Tue, 03 Dec 2024 14:53:32 GMT by jlwren1878
I own 0.5% of a US LLC in vested shares. If this 0.5% is sold, I am subject to capital gains tax in the USA. Will I be subject to CGT in the UK and can use the UK & USA double taxation policy, or does the sale of a US LLC share count as income tax?
Posted Fri, 06 Dec 2024 14:45:46 GMT by HMRC Admin 32 Response
Hi,
If you hold on to vested shares, then later dispose of them, you may be subject to Capital Gains Tax. You would need to review the article relating to capital gains and determine if and where your asset disposal is taxable. If it is taxable in both countries, you would need to claim a foreign tax credit in your tax return.
Thank you.

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