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Old 01.08.2020, 17:01
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CGT in UK on Swiss Stock options

Hi,
I was awarded stock options and preferred shares whilst in CH and paid tax on them when they were awarded (on the face value of the award) as there was, at the time, no CGT on the sale of shares.

I'm now trying to explain this to my accountants that any shares issued in CH, tax paid then, would not be liable for tax in the UK.

Of course, if there has been an increase in value whilst back in the UK, then this portion could be liable.

Of course, I could use my joint CGT annual allowance as an offset, but want to use this for something else.

Does anyone have any have access to any documentation or tax treaties that would prove this to my accountants (of course they can research it but I will pay an extortionate fee...)

Thanks all!
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Old 01.08.2020, 17:18
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Re: CGT in UK on Swiss Stock options

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Hi,
I was awarded stock options and preferred shares whilst in CH and paid tax on them when they were awarded (on the face value of the award) as there was, at the time, no CGT on the sale of shares.

I'm now trying to explain this to my accountants that any shares issued in CH, tax paid then, would not be liable for tax in the UK.

Of course, if there has been an increase in value whilst back in the UK, then this portion could be liable.

Of course, I could use my joint CGT annual allowance as an offset, but want to use this for something else.

Does anyone have any have access to any documentation or tax treaties that would prove this to my accountants (of course they can research it but I will pay an extortionate fee...)

Thanks all!
If you were liable to UK CGT at the time of the sale, you would be liable to tax on the gain as the UK taxes world wide gains. Your base price being the tax value of the shares when acquired converted to on that day.
Not sure how long you were a non UK tax payer but to get out of UK CGT you need to be away for 5 full tax years.
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Old 01.08.2020, 17:30
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Re: CGT in UK on Swiss Stock options

Hi, I was away for 20 years. But now back in the UK and the shoes haven't been sold yet - so they will be sold in the Uk also
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Old 01.08.2020, 17:35
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Re: CGT in UK on Swiss Stock options

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Hi, I was away for 20 years. But now back in the UK and the shoes haven't been sold yet - so they will be sold in the Uk also
Then you will be liable to any rise in value in GBP from the date you owned the shares, I suspect this is what the accountant thought. UK CGT has a max rate of 20% for high rate taxpayers after any allowance. Had they been sold the day before you returned to the UK, no tax would have been payable.
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Old 01.08.2020, 19:48
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Re: CGT in UK on Swiss Stock options

thanks - they hadn't vested when i moved.
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