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Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.
Any net gains from your US trading will be subject to UK Capital Gains Tax (CGT). You have a non-cumulative Annual Exempt Amount (AEA), currently 11.7K, to offset any gains. Under the Double Taxation Treaty between the UK and the USA, any tax deducted by the IRS will be allowed as a tax credit against your UK CGT liability.
I think that covers the position fairly succinctly.
The IRS is the US Federal Taxation service. HMRC are the UK equivalents. I would expect your US brokerage account to handle the CGT position with the IRS.
No, if the IRS does deduct tax then the Double Taxation Treaty provisions will come into effect and you can use the tax credit to offset tax over the AEA. There is a danger of irrecoverable tax credits here if your gains in the year are below the AEA.
Delighted to have been of assistance, Tom.
Thank you for your support.
Certainly, you can always follow up after rating.