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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 14872
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I am an EU national living temporarily in the UK. I obtained

Customer Question

Hello
JA: Hello. How can I help?
Customer: I am an EU national living temporarily in the UK. I obtained pre-settled status 2 weeks ago. But Iam not planning to continuelivng in the UK. At the moment all my savings are abroad and I do not want to be paying capital gains tax. Must I give up my status immediately?
JA: What are the assets or property for this capital gain?
Customer: shares, bonds, currency, ETFs, funds, 2 properties rent
JA: Anything else you want the Accountant to know before I connect you?
Customer: No
Submitted: 16 days ago.
Category: Tax
Expert:  Sam replied 16 days ago.

Hi, Sam here , one of the UK tax Experts here on Just Answer, thank you for your question and I shall reply shortly

Expert:  Sam replied 16 days ago.

 

What makes you think you will have capital gains tax? You will just be taxed on the interest element of the savings as you are going to be taxed on your worldwide income (so not on the capital but the interest) once you have settled status but as you are just pre settled then you are not bound by this as yet -and capital gains arise once you have sold or disposed of any assets Thanks Sam

 

Customer: replied 16 days ago.
I just do not want to be taxed at all here in the UK. I want to be taxed in the country to which I will be leaving after New year. I think I made a mistake by applying for pre-settled.
Expert:  Sam replied 16 days ago.

 

 

Hi

 

I am afraid its too late to change this now

You will be treated as a UK citizen from the date the settled status is valid from - thanks Sam

Expert:  Sam replied 13 days ago.

Can I assist further - Thanks Sam