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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I bought shares in my company whilst living abroad and non-resident

Resolved Question:

I bought shares in my company whilst living abroad and non-resident but sold them after my return as a Resident (under the new statutory definition). I bought the shares at a range of prices between 2005 and 2010. The weighted average price was approximately 7p. On the date of my return in September 2013 the price was 2p but when I sold in December 2013 the price had risen to 7p.

Overall there was no gain. How would CGT be levied in this case.
Submitted: 3 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 3 years ago.
Hello and welcome to the site. Thank you for your question.

Gain is the difference between your weighed average price and the sale price. the valuation Septemeber 2013 is irrelevant for calculating the gain/loss as nothing was realised then.

In your case, as there is no gain there will be no CGT payable.

I hope this is helpful and answers your question.


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Expert:  taxadvisor.uk replied 3 years ago.
I thank you for accepting my answer.
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Best wishes.