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CGT on foreign shares
Dashboard_2
Posts: 1 Newbie
in Cutting tax
Sometime ago in 2006/7 I was fortunate enough to buy some shares in the US company I worked for at a discounted rate, due to a share purchase scheme. I am now looking to sell these and want to check my understanding of the tax implication and ask for some advice (first time poster, so please be nice)
If I sell my shares CGT is payable in the tax year when I sell them rather than when I bring the money back to the UK?
If I only sell some shares and keep this below the CGT allowances, no tax would be due this year if I sell the rest of the shares in the next tax year?
I paid some additional income tax at the time of purchasing these shares. Can I offset this against the CGT due (the tax itself and not the profit)?
If so, what documentation would I need to prove to the HMRC to prove I paid this extra tax? At the moment all I have is payslips with and increase in income tax amount every 6 months when the shares were purchased.
Many thanks!
If I sell my shares CGT is payable in the tax year when I sell them rather than when I bring the money back to the UK?
If I only sell some shares and keep this below the CGT allowances, no tax would be due this year if I sell the rest of the shares in the next tax year?
I paid some additional income tax at the time of purchasing these shares. Can I offset this against the CGT due (the tax itself and not the profit)?
If so, what documentation would I need to prove to the HMRC to prove I paid this extra tax? At the moment all I have is payslips with and increase in income tax amount every 6 months when the shares were purchased.
Many thanks!
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