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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 am working in Qatar and therefore not paying UK tax. However

Resolved Question:

I am working in Qatar and therefore not paying UK tax. However I do own a house in the UK and want to pay off the mortgage. I am about to leave a US based company and therefore have to sell my shares as the company as it is employee owned. If the money generated by these stocks is deposited in my UK bank account will it be subject to Capital gains Tax even though I am not currently paying tax in UK?
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

If you are a non resident in the UK for UK tax purposes in a tax year, funds deposited in a UK bank from overseas earnings/gains are not chargeable to UK income tax or capital gains tax.

Any income arising in the UK would be chargeable to UK tax.

I hope this is helpful and answers your question.


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Customer: replied 2 years ago.

The company has headquarters in US and the stocks will be paid in dollars but I work for the UK branch even though I am working in Qatar. Does this have any effect?

Expert:  taxadvisor.uk replied 2 years ago.
David, thank you for your reply.

If your earnings are not taxed as you are non resident in the UK then whilst you maintain this tax stautus, any gain from sale of shares would not be chargeable to UK taxation.

I hope this is helpful.
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Expert:  taxadvisor.uk replied 2 years ago.
I thank you for accepting my answer.
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Best wishes.

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