Overseas investment (shares) taxation?
Discussion
Following on from a recent thread regarding whether it was a good time to buy US currency, I have a question regarding tax.
I'm considering buying some assets in the US, like shares in a big firm, rather than just currency. The ploy is that hopefully the share price will increase, and the dollar will drag itself back upwards, in time, of course. Hopefully this would mean two-fold gains, all being well. One for increased share price, the other in currency gains.
I know that I'd be paying CGT on UK company shares where applicable, but if my shares are based in the US, I trust I'd also be paying the same CGT to the revenue. In the event of the dollar picking up, would I be liable to pay any similar gains taxes on the strength of the currency increase too?
Just thinking about slightly more productive investment vehicles than what I have now..
Many thanks
I'm considering buying some assets in the US, like shares in a big firm, rather than just currency. The ploy is that hopefully the share price will increase, and the dollar will drag itself back upwards, in time, of course. Hopefully this would mean two-fold gains, all being well. One for increased share price, the other in currency gains.
I know that I'd be paying CGT on UK company shares where applicable, but if my shares are based in the US, I trust I'd also be paying the same CGT to the revenue. In the event of the dollar picking up, would I be liable to pay any similar gains taxes on the strength of the currency increase too?
Just thinking about slightly more productive investment vehicles than what I have now..
Many thanks
Edited by gandhi on Wednesday 25th July 01:59
Gassing Station | Business | Top of Page | What's New | My Stuff