Holding UK shares/warrants
#1
Holding UK shares/warrants
Can anyone clarify the position with shares/warrants, once a person leaves the UK and emigrates to Australia? Do I just notify the registrars of my new address abroad and file the certificates away safely? Can I exercise any warrants or sell any shares? What are the legal/tax implications? Thanks.
#2
Forum Regular
Joined: Nov 2003
Location: Rodd Point, Sydney
Posts: 132
Hi,
Most of my sharetrading I do online so I don't have to worry about share certs etc. I did phone up one registra b4 I left the UK who said I would have to declare that I have moved abroad etc...pain in the backside when selling etc, so all I have done is brought my share certs with me. I now make sure all other deals are done online for simplicity. Not sure what the tax implications are, but I gather you will pay Oz tax if the proceeds come this way.
I know that hasn't really answered your question...
Piers
Most of my sharetrading I do online so I don't have to worry about share certs etc. I did phone up one registra b4 I left the UK who said I would have to declare that I have moved abroad etc...pain in the backside when selling etc, so all I have done is brought my share certs with me. I now make sure all other deals are done online for simplicity. Not sure what the tax implications are, but I gather you will pay Oz tax if the proceeds come this way.
I know that hasn't really answered your question...
Piers
#3
Re: Holding UK shares/warrants
Originally posted by Jacqui
Can anyone clarify the position with shares/warrants, once a person leaves the UK and emigrates to Australia? Do I just notify the registrars of my new address abroad and file the certificates away safely? Can I exercise any warrants or sell any shares? What are the legal/tax implications? Thanks.
Can anyone clarify the position with shares/warrants, once a person leaves the UK and emigrates to Australia? Do I just notify the registrars of my new address abroad and file the certificates away safely? Can I exercise any warrants or sell any shares? What are the legal/tax implications? Thanks.
As piers_morgan suggests, it is better to dematerialise your shares - it's much easier to deliver the stock electronically than being bothered with delivering paper certs.
Generally, on the tax front, if you are a UK non-resident you would normally pay UK income tax on the dividends, but not UK capital gains tax (if you choose to sell the shares).
#4
Bear in mind that if you dematerialise your stock into CREST, you have to maintain a UK correspondence address. The alternative is to find someone in Oz that will provide international custody. Easy enough, but it costs.
If you don’t trade regularly, just hold onto the certificates and notify the registrar of your change of address. You can always post them back to a stockbroker in the UK and request that they sell on receipt, as you won’t make the T+3 settlement terms for them to receive the certificate.
If you don’t trade regularly, just hold onto the certificates and notify the registrar of your change of address. You can always post them back to a stockbroker in the UK and request that they sell on receipt, as you won’t make the T+3 settlement terms for them to receive the certificate.