Rob Brydon
Joined: 6/22/2024
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Capital Gains on Foreign Income
Dear All, I may generate about £3,000 in capital gains income in India over this tax year through disposal of listed Indian shares. Capital gains are charged at 15% in India so I will be paying that amount to the Indian tax authorities. Capital gains in the UK are charged at 20%. Do I just pay the additional 5% to the HMRC so that I avoid getting taxed twice (under double taxation) or do I need pay 20% tax and then seek a credit from the HMRC for the 15% I have paid the indian tax authorities? Kind regards,
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