UK Tax
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Answered in 19 minutes by:
7/31/2012
TaxVince, Accountant
Category: UK Tax
Satisfied Customers: 975
Experience: Chartered Accountant >20 years + Qualified IFA
VerifiedHi
Since you have been living in UK you are certainly a UK tax resident and therefore liable for all your taxes to UK tax authorities. You should have been declaring the income if the total income you earn is above the tax threshold/allowance £8,105 (for 2012/13)- this may be different depending on your age.
Its best to put your books in order by start reporting the income in your next tax return. When you sell the shares you are also liable for capital gains. You dont have to transfer the shares to UK. You only need to keep a good record of income and capital gains/losses.
Regards
Since you have been living in UK you are certainly a UK tax resident and therefore liable for all your taxes to UK tax authorities. You should have been declaring the income if the total income you earn is above the tax threshold/allowance £8,105 (for 2012/13)- this may be different depending on your age.
Its best to put your books in order by start reporting the income in your next tax return. When you sell the shares you are also liable for capital gains. You dont have to transfer the shares to UK. You only need to keep a good record of income and capital gains/losses.
Regards
Overseas holding companies owning UK investments like properties are now (from 2013) required to pay capital gains tax. Im not sure whether this is what you were referring to.
TaxVince, Accountant
Category: UK Tax
Satisfied Customers: 975
Experience: Chartered Accountant >20 years + Qualified IFA
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