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taxadvisor.uk, Chartered Certified Accountant
Category: Tax
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Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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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: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 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.

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