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| *The Commerce Journal>>>United Kingdom Taxes |
UK Capital Gains Tax, and stock profit abroad? |
Lets assume that I made a profit trading on some foreign stock market, and this foreign country does not have CGT at all. What happens when I want to transfer money back to the UK, am I liable to UK's CGT or is there some "no-double-taxing" scheme (as I can claim that I was taxed in that foreign country, which has no CGT). Btw I am in the higest UK income tax bracket (40%) if this is relevant. If you are resident in the UK (and you seem to be) you must pay tax on your worldwide income, including CGT on foreign gains. Fill in a tax return and declare the gains. |
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