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Posted Tue, 12 Mar 2024 10:30:17 GMT by YY WONG
I am eligible as a "new 4-year FIG regime" from tax year 2021 per announced in recent budget, please help to answer below questions related to capital gain: : 1. can I claim back the capital gain tax on my foreign capital gain which already reported in the tax year 2022-2023? 2. I have capital gain from UK and capital gain from foreign countries, can I choose to be taxed under the new 4-year FIG regime for the current tax year 2023-2024? 3. if I choose to be taxed in the new 4-year FIG regime in future, and I have capital gain from UK and from foreign countries, is it true that I can still use the Capital Gain Annual exempt amount for the UK capital gain while waived the tax of foreign capital gain? 4. if I purchase some foreign shares AFTER tax year started on 2025 April, is it true that the foreign capital gain tax of selling these foreign shares can also waive the foreign capital gain tax if I choose to be taxed in the new 4-year FIG regime? Thanks in advnace.
Posted Tue, 19 Mar 2024 12:10:11 GMT by HMRC Admin 8 Response
Hi,
The changes to the remittance basis rules do not take effect until 6 April 2025.  
Until then, the current remittance based rules will continue to apply.  
1 - No
2-  No
3 - No. the AEA is removed, as is PA.  We cannot answer a question based on future events.
Thank you.

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