Capital Gain tax rate when remitting sale of foreign shares

Good afternoon, In a year that I claim the remittance basis, what tax rate is used when I remit the sale of shares (not a mixed account). For example: Remit 10,000 from the sale of shares that include a total capital gain of 1,000 Am I correct to assume that I will pay only 10% capital gain tax on 1,000? I am confused by a lot of references that mentions income and gains but then only refer to the 20% and 40% income tax rates.

Hi Peter,
Please refer to guidance here:
Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you. 

 

Hi, I have the very same question but I think the link above didn't really answer it, and it only talks about the tax rate if one remits their foreign dividends income to the UK, not capital gain. To be more specific, if: - I file my tax return with remittance basis for tax year 23/24. - I'm in additional tax rate. - In that tax year, I transferred £9,000 from my UK bank account to an US broker, bought and sold different US stocks, at the end I made £1000 in capital gain. I remitted all of that £10,000 back to my UK bank account. Which tax rate is that £1,000 capital gain is taxed? Usual capital gain rate of 20% for additional rate taxpayer? Or something else? Thanks.

Hi ,
 

Please refer to guidance at :  Capital Gains Tax: what you pay it on, rates and allowances . Thank you .

Thanks for the link. However it doesn't mention anything about filing self assessment with remittance basis. I know that one would lose their capital gain allowance if they file their self assessment with remittance basis. But if in that very same tax year, they remit capital gain from outside of the UK to the UK, would the rates in the link above apply to them? Thanks.

Hi ,
 

UK capital gains rates would apply.  For all gain types other than residential property, the rates are 10% and 20% up to 30 October 2024.  After this date, they increase to 18% and 24%.  Residential property gains would be taxed at 18% and 24%.  Where the remittance basis is claimed, the annual exempt allowance cannot be claimed. Thank you .