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Non-resident (12 years). CGT on mutual funds with uk broker?
Rocksy_B
Posts: 4 Newbie
in Cutting tax
Hi all. I'm hoping for a quick but of help. I have lived abroad for 7 years and am non-resident for UK tax. I have some mutual funds with a UK broker. As far as I’m aware, a non-resident would not pay tax (in the UK) on these if sold:
HMRC says…
HMRC says…
You do not pay Capital Gains Tax on other UK assets, for example shares in UK companies, unless either:
- you return to the uk within 5 years of leaving
- you sell shares in a company that is ‘UK property rich’ and you meet the conditions for an indirect disposal
***
However, I find the example (in bold) confusing. Would mutual funds including US companies, be “UK assets”? I'm sure they would be through a UK broker, but the example from HMRC throws me off a bit,
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