Skip to main content

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

Posted Sun, 04 Feb 2024 17:56:28 GMT by
Hello, I would be really grateful if you could answer my queries. I am currently a UK resident since last 3 years and I am employed full time. I am not a UK citizen and working here on a Work visa. I recently became interested in CFD trading and found out I am good at it. I opened an account with UK broker. Now because of personal reasons, I am planning to shift back to my Home country permanently. However, I am going to keep my UK bank account active as I will recieve pension which I want in my UK bank account only. Now, I want to continue to do CFD trading as I am doing now and my broker says I can do trading outside of UK without any problems (from India), I want to ask what will be my Tax implications on profits earned from trading in CFDs? How much amount would be Tax free?
Posted Wed, 07 Feb 2024 11:20:53 GMT by HMRC Admin 25 Response
Hi Vipendra Singh,
Please have a look at the guidance on residence at RDR3
To help determine your tax residence for the tax year in which you return to India and whether split year treatment applies.
RDR3 Statutory Residence Test
You may find that if you are tax resident in the UK for the whole tax year, you will have to report any capital gains arising in the tax year that you leave the UK.
In future tax years, where you are not UK resident, there will be no UK capital gains tax to pay on any gains arising from your investment activities via your broker.
You will have to declare the gains in India.
Thank you. 

You must be signed in to post in this forum.