Skip to main content

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

Posted Wed, 05 Jan 2022 11:09:20 GMT by ilnomis
Hi, I'm a British citizen and have plans to move abroad. Please assist with the below questions: 1: If I continue to trade shares on a trading platform with a UK address (I will continue to keep my UK home); 1a: Do I continue to pay UK CGT? 1b: Do I ever stop paying UK CGT? perhaps after I become a non-resident or after 5 years being abroad or? 1c: Does the trading account address have any impact on the tax status at all? I presume not, but just wanted to confirm. 1d: My understanding is that I cannot use the HMRC online services (including self-assessment), so is it either use their postal service or a tax advisor? 2: I've made some investments in startups (whilst in the UK as a UK resident); 2a: Do I pay UK CGT when I sell it regardless of whether I'm a UK resident or non- UK resident? Many thanks
Posted Fri, 07 Jan 2022 09:41:33 GMT by HMRC Admin 2
Hi,

As a non resident, you will only pay CGT on UK property disposals, not shares.

If this is a trade then again as a non resident this would not be reportable.

As a non resident you will not be able to file online for self assessment.

This would only be required if you meet any Self Assessment criteria.

SAM100060 - Records: set up taxpayer record: criteria for an SA record

Thank you.
Posted Fri, 07 Jan 2022 09:55:37 GMT by ilnomis
Hi, I found the below on the HMRC website: You’re automatically non-resident if either: - you spent fewer than 16 days in the UK (or 46 days if you have not been classed as UK resident for the 3 previous tax years) - you work abroad full-time (averaging at least 35 hours a week) and spent fewer than 91 days in the UK, of which no more than 30 were spent working So does that mean if I dispose of any investment WITHIN THREE UK tax years then I would still be liable to pay for UK CGT? If this is the case, then can I still use the self assessment online form whilst being physically abroad?
Posted Mon, 10 Jan 2022 14:42:22 GMT by HMRC Admin 17

Hi,
 
These cases determine your residency status.

You would then declare or not declare disposal based on this.

If you are meet the conditions to be classed as non resident at the time of disposal then you will not need
to report this unless it refers to residential property.

Thank you.

You must be signed in to post in this forum.