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Posted Thu, 26 Sep 2024 10:27:48 GMT by Robin
I do not have any income liable to tax. However, I do have capital gains of £10,000 from selling shares in a non-reporting offshore investment fund. How much tax will I need to pay on that? As far as I understand, since the fund is non-reporting, any capital gains from it are taxed as income. However, since my total income would then still be below the personal allowance of £12,570, the tax rate is 0%. Is this understanding correct?
Posted Fri, 04 Oct 2024 14:10:39 GMT by HMRC Admin 19 Response
Hi,
You can see guidance here:
How do I report my income from a reporting offshore fund?
Income Tax rates and Personal Allowances
Thank you.

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