'Initial Investment' amounts and buying Shares
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I would like to buy some Google/Apple shares specifically rather than invest in 'technology' as a whole. I wasn't aware of any USA tax issues though, does it matter if they are within an ISA?
The special tax status of S&S ISAs means you don't pay uk tax to HMRC on profits within. That doesn't mean that the US IRS will recognise that status or consider them as tax free for its own purposes, as if it were something it properly understood to be tax free like a U.S.retirement scheme, and give you the tax back that it withheld as standard. And HMRC are not going to give you back anything withheld because you are doing it in an opaque wrapper where they can't see your activities and they did not withhold from you at all anyway.
At the moment the main U.S.tech shares I hold directly in small doses are things like Amazon or Yelp which are not paying divs anyway, so I haven't bothered wrapping them, I just hope to have their eventual gains to use up spare CGT allowance. So the point is moot.Thrugelmir wrote: »Google share price is $576. So small top ups aren't going to be enough.0 -
Thank you bowlhead, a very thorough answer! I think I will go with the suggestions and fill up my ISA allowance with funds (which should take me a while!) before I get involved in American shares.
I appreciate the help everyone - I'm sure I'll be back before too long with more questions!0
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