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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4976
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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NON-UK resident received shares from UK company. I'm

Resolved Question:

NON-UK resident received shares from UK company.
Hi, I'm permanent resident of Bulgaria and received shares from UK company #1. UK Company #2 bought Company #1 and I received payment for my shares in Bulgarian bank account.
Do I need to pay taxes in the UK and how to proceed?
Submitted: 10 months ago.
Category: Tax
Expert:  taxadvisor.uk replied 10 months ago.

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.

Expert:  taxadvisor.uk replied 10 months ago.

Thank you fo ryour question.

If you are permanent resident of Bulgaria and you have made a capital gain from sale of shares in the UK company, your gain is not chargeable to UK CGT but you would have to report this gain to your loacl tax authorities and pay appropriate taxes on this gain in Bulgaria.

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.

Customer: replied 10 months ago.
Hi,Thank you very much for the prompt reply.As a permanent resident of Bulgaria, the tax authorities there said I must pay tax there, but to verify with the UK if there is a need to report or pay.Can you please share any article number or guide me to where to read, related to UK CGT that excludes non-UK residents from paying tax in the UK. If such text is not phrased like that - any other guide to an articles that exempt me from paying tax in the UK?
Expert:  taxadvisor.uk replied 10 months ago.

Thank you for your reply.

As a permanent no resident you will not report this gain to UK tax authories nor would you pay any tax to UK tax authorities.

I hope this is helpful.

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Expert:  taxadvisor.uk replied 10 months ago.

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