How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask taxadvisor.uk Your Own Question
taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4985
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
54961312
Type Your Tax Question Here...
taxadvisor.uk is online now

I hold shares in an Australian company at an address of mine

Customer Question

I hold shares in an Australian company at an address of mine in NZ. I am considering returning permanently to the UK and wish to know what the tax position of the investment would be if I transfered it and the income to the UK. My gross income in the UK is about £27k p.a.
Submitted: 3 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 3 years ago.
Hello and welcome to the site. Thank you for your question.

Once you return to the UK and become a UK resident for tax purposes, then you will be taxed on worldwide income and gains.

You will have to report income from overseas by completing supplementary pages SA106 - Foreign of the tax return. You claim foreign tax credit relief against foreign tax paid.

More information on taxation of foreign income and gains is covered on the notes that accompany SA106 - see here

http://www.hmrc.gov.uk/worksheets/sa106-notes.pdf


I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.