Sale of Stocks

Hi, I had some stocks in an US investment broker and trying to figure out how to handle the capital gain tax if I sell and bring the money to the UK. Events that happened 1- 80K USD was transferred initially from my earnings in the home country around 2021. Those earning were taxed in the home country. 2- I transferred around 80K USD worth of company stocks I vested while working for the public US company to the same investment broker in 2022 and 2023. 3- I have sold those company stocks (as they were restrictive and allowing me to sell in only certain window in every quarter so I wanted the flexibility by getting rid of those stocks) and bought other stocks on the same platform in 2022 and 2023. The money didn't go out of the platform. 4- In 2024 I became an UK tax resident. The initial money was taxed in my home country. The stocks acquired in step 2 was not taxed yet in my home country. I now want to sell all of the stocks and bring them to the UK. How the tax will be handled in this situation?

Just a side note regarding step-2 and step-3, those events happened before we become an UK tax resident and I am in the process of paying the incurred taxes in my home country. My question is mostly for future transactions I plan to do in the UK. E.g. I want to sell stocks and transfer the money to my UK bank account.

Hi,

There is no UK Captial Gains Tax liability on disposals arising, while you were not UK tax resident.  

Any disposal arising while UK tax resident, may be subject to Capital Gains Tax. To work out if there is a capital gain, you will need to convert all values to pounds sterling, using a just and reasonable exchange rate, that would have been in use at the time of acquisition and disposal.

Under the terms of Self Assessment, we do not provide an official exchange rate and the onus is on the individual to use a just and reasonable exchange rate for each acquisition and disposal. For your convenience, there are exchange rates here:

Exchange rates from HMRC in CSV and XML format

and for older rates here:

Foreign exchange rates and spot rates: 1 January 1989 to 31 March 2009

You are free to use any of the supplied rates or one of your own choosing. 

Thank you.

Hi u954243,
If you sell any of the stocks whilst in the UK you will be liable to Capital Gains tax here.
Thank you.