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RE: Selling shares gifted
Thanks. With regards to the gain/loss calculation, which price should be the acquisition price? On the date when the shares were gifted (before I becoming a tax resident) or on the date of the start of the financial year when I become a tax resident? Some of the shares are issued by non-UK territories. How would the exchange rate be determined when calculating the gain/loss? Calculate the gain/loss (in foreign currencies) then have the result converted into GBP, or have the sold price (in GBP) minus the acquisition price (in GBP)? -
Selling shares gifted
If my parents send company shares to me as a gift before I become a UK resident, and after I become a tax resident, I plan to sell it. Will the sales proceeds be subject to capital gains taxes?