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Forum: Moving back or to the UK

Oct 15th 2017, 5:29 pm

Replies: 12

US/UK dual Citizen capital gains tax

Views: 3,633

Posted By durham_lad

Re: US/UK dual Citizen capital gains tax

I would think that the CG’s are combined together, I don’t think you file a 1116 FTC form for every single CG. Your example above would, I think, mean you pay 180 tax to the UK and claim it all back...

Forum: Moving back or to the UK

Oct 15th 2017, 5:24 pm

Replies: 12

US/UK dual Citizen capital gains tax

Views: 3,633

Posted By durham_lad

Re: US/UK dual Citizen capital gains tax

That is exactly what form 1116 is, claiming the FTC for taxes paid to HMRC. Sorry if my wording was confusing.

Forum: Moving back or to the UK

Oct 2nd 2017, 11:55 am

Replies: 12

US/UK dual Citizen capital gains tax

Views: 3,633

Posted By durham_lad

Re: US/UK dual Citizen capital gains tax

Here is how I think it works. (This is the first year for me)

This past UK tax year (2016/17) I made some capital gains selling some shares from an ETF in January 2017. I will report and pay taxes...

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