Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • Radioactive
    • By Radioactive 11th Jul 17, 10:19 PM
    • 11Posts
    • 1Thanks
    CGT liability during period of non-residence
    • #1
    • 11th Jul 17, 10:19 PM
    CGT liability during period of non-residence 11th Jul 17 at 10:19 PM
    I have been living and working in the (CGT-free) Middle East for many years. During that time I purchased some offshore unit trusts. I now plan to return to the UK. Will any future UK CGT liability be based on the increase in value over my total period of ownership or just the period while I am UK tax resident? For example:
    • In 2010 I purchased a number of shares at 100 each (while tax resident in the Middle East)
    • In 2017 I become tax resident in the UK and the shares are now worth 120 each.
    • In 2020 (while still tax resident in the UK) I sell the shares for 130 each
    Will my gain (for UK CGT purposes) be 30 per share or 10 per share? I assume it will be 30 per share. If so, are there any measures I can take (other than selling the shares) prior to my becoming UK tax resident to reduce the subsequent CGT liability?
Page 1
    • Cook_County
    • By Cook_County 12th Jul 17, 10:41 PM
    • 2,923 Posts
    • 2,075 Thanks
    • #2
    • 12th Jul 17, 10:41 PM
    • #2
    • 12th Jul 17, 10:41 PM
    Are these reporting or non-reporting funds?
    • SYTax
    • By SYTax 13th Jul 17, 9:21 PM
    • 12 Posts
    • 2 Thanks
    • #3
    • 13th Jul 17, 9:21 PM
    • #3
    • 13th Jul 17, 9:21 PM
    Assuming you are UK domicile, if you sell while UK resident you will be subject to UK tax on the full profit (30 per share in your example).

    Whether the fund is reporting or non-reporting will decide whether his is income or a capital gain.

    I can't think of any other steps except selling before becoming UK resident. You could always buy again (wait 30 days after sale) if you really want to hold those particular funds.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,629Posts Today

8,309Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line?

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin