Dashrad

Hi Thank you for the response. Looking forward to the guidance. Since the deadline for 2023 to 2024 self assessment is nearing, would you please be able to confirm the following? "I sold some shares in March 2024. If I choose the Arising basis, I’d have to pay CGT at the old rate of 20% since the gain was realised before 30 October 2024." Looking forward to your reply. Thank you.

My situation: I’m not a UK citizen. I lived in my home country until May 2022. I moved to the UK in June 2022 for work and I’ve been a tax paying resident since then. I currently have an annual salary that puts me in the higher Capital Gains tax bracket. I was granted US shares [ESOPs and RSUs] in my previous employment before I became a resident in the UK. I sold the shares in the US during the UK Tax Year of 2023-24 and I have some capital gains. I’m planning to bring the money from the US to the UK now. Latest policy paper on the tax reforms for non-doms that will come into effect from 6th April 2025: https://www.gov.uk/government/publications/tax-changes-for-non-uk-domiciled-individuals/reforming-the-taxation-of-non-uk-domiciled-individuals It says - "The new regime will provide 100% relief on foreign income and gains for new arrivals to the UK in their first 4 years of tax residence, provided they have not been UK tax resident in any of the 10 consecutive years prior to their arrival (4-year foreign income and gains regime)." Questions: 1. If I choose to bring in the Capital Gains after 6th April 2025, would I be eligible for a 100% relief on my Capital Gains since it's been less than 4 years since I moved to the UK? 2. If I bring in the proceeds from the US to the UK before 6th April 2025: a. Via the Remittance basis, I’d have to pay CGT at the new rate of 24%. Is this correct? b. Via the Arising basis, I’d have to pay CGT at the old rate of 20% since I sold the shares during the UK Tax Year of 2023-24 and that's when the gain was realized. Is this correct? Can anyone please help clarifying these questions?