YY WONG
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Questions about the new 4-year FIG regime on foreign capital gain
I am eligible as a "new 4-year FIG regime" from tax year 2021 per announced in recent budget, please help to answer below questions related to capital gain: : 1. can I claim back the capital gain tax on my foreign capital gain which already reported in the tax year 2022-2023? 2. I have capital gain from UK and capital gain from foreign countries, can I choose to be taxed under the new 4-year FIG regime for the current tax year 2023-2024? 3. if I choose to be taxed in the new 4-year FIG regime in future, and I have capital gain from UK and from foreign countries, is it true that I can still use the Capital Gain Annual exempt amount for the UK capital gain while waived the tax of foreign capital gain? 4. if I purchase some foreign shares AFTER tax year started on 2025 April, is it true that the foreign capital gain tax of selling these foreign shares can also waive the foreign capital gain tax if I choose to be taxed in the new 4-year FIG regime? Thanks in advnace. -
about the 4-year FIG regime
I am eligible as a "new 4-year FIG regime" from tax year 2021 per announced in recent budget, please help to clarify below questions: 1. can I claim back the tax on my foreign income which already reported in the tax year 2022-2023? 2. can I choose to be taxed under the new 4-year FIG regime for the current tax year 2023-2024? 3. if I choose to be taxed in the new 4-year FIG regime in future, and I have both UK income and foreign income, is it true that I can keep the Personal Allowance for the UK income while waived the tax of foreign income? Thanks.