Reasons for having to do self assessment.

Johnnyboy11

Don't you need to do a SA in any case, to report Capital Gains and any dividends from foreign companies? Tesla and Nvidia fall into this category. The Foreign Pages can't be completed using HMRCs online portal, and you either need to submit these in paper format or using approved commercial software. Some popular Vanguard funds are domiciled in Ireland and also fall into the foreign category, which is a pain.

scoobyjones1

Johnnyboy11 said:

Don't you need to do a SA in any case, to report Capital Gains and any dividends from foreign companies? Tesla and Nvidia fall into this category. The Foreign Pages can't be completed using HMRCs online portal, and you either need to submit these in paper format or using approved commercial software. Some popular Vanguard funds are domiciled in Ireland and also fall into the foreign category, which is a pain.

You do have to complete a self assessment if your gains are over the 3K allowance. The gain is only made when you sell. I am trying to run down the account using the 3k and my Wife's 3k allowance, gifting some shares to her...plus I have some loss making shares to sell at the same time....which in effect increases your allowance.

It will take many years unless the gov increase the CGT allowance. (yeah, right!).

As for dividends, Nvidia only pays a tiny dividend. Tesla does not pay one at all.
I'm not sure... if you pay US tax on them first, they may be exempt...anyone? In any case the foreign ones are added to any UK ones and at the moment you have a £500 allowance on that. If you do go over you would have to complete a SA unless you are a non tax payer and the dividends do not take you over your PA, as I understand it.
At some point I will have to pay some CGT though, just not yet.