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Posted Thu, 23 May 2024 17:46:33 GMT by Jkms2222
Hi there I am a non-resident, with a let-out property as well as some shares in the UK. I am entitled to personal allowance. I would like to confirm my understanding on my tax affairs on my shares investment. 1. Capital gains Based on reading HMRC guidance, I understand that my UK shares are not subject to capital gains tax as I am a non-resident. Am I correct? 2. Dividend income When it comes to dividend income from UK shares (that have been taxed at source, exceeds dividend allowance), I am confused by various references as to whether I am liable to income tax. Whilst some reference suggest my UK share dividends could be seen as disregarded income and no tax, it then remarks that no personal allowance is considered. Given I have property income and rely on personal allowance as such, does it follow that in my self assessment, my UK shares income need to be taxed (at 8.75%)? Am I therefore correct that it all depends on the trade off between the tax on dividends versus the tax saved from personal allowance before allowing for interest offset (at 20% band)? Thank you.. Rega4ds John
Posted Wed, 29 May 2024 11:41:47 GMT by HMRC Admin 19

You can see guidance here:

Tax on your UK income if you live abroad

Thank you.
Posted Fri, 31 May 2024 09:40:37 GMT by Jkms2222
Thank you for your response. The link is helpful, but some query. Does dividends from UK listed shares count as UK income? Thanks.
Posted Tue, 04 Jun 2024 16:38:36 GMT by HMRC Admin 10

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