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Posted Mon, 17 Jun 2024 11:41:36 GMT by Kingson Y
Hello, I recently relocate from Japan to UK in December 2023, prior relocation I never enter to UK and without valid citizenship, but is a BNO passport holder. Currently I am preparing self assessment for 2023/24, in regards the stock investments, I have Japan and US broker account respectively, which holding Japan listed stocks and US listed stocks. Due to relocation, I transferred the Japan listed stock investments from Japan broker account to a newly open UK broker account at the same broker in Feb 2024. Then I sold part of the stocks with capital gain in March 2024 and remain part of the stocks unsold. Therefore, in regards to the stock position I transfer from the Japan account to the UK account and the subsequent sell of these stocks, I would like to claim for remittance basis of the CGT in my self assessment 2023/24. Please advise the further action and whether I am eligible for the claim. Many thanks and look forward to hearing from you soon. Regards, Kingson
Posted Thu, 20 Jun 2024 09:41:13 GMT by HMRC Admin 20
As the shares were sold when you were in the UK and from a UK stock account, this is UK income and as such not covered by the remittance basis and needs to be declared.
Thank you.
Posted Thu, 20 Jun 2024 11:55:16 GMT by Kingson Y
Thank you. In addition, I have another US broker account, I sold part of the investments with capital gain in tax year 2024/25, but the proceed has not transfer back to any UK account, if I wish to do so is this proceeds require to declare and eligible to the remittance basis application, if yes, please kindly advice the steps to complete.
Posted Wed, 26 Jun 2024 10:03:09 GMT by HMRC Admin 5
Hi Kingson Y

Please refer to guidance at Remittance basis 2024 (HS264)

Thank you

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