Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

Trading UK shares from the US

Trading UK shares from the US

Old Jul 23rd 2021, 8:48 pm
  #1  
Just Joined
Thread Starter
 
Joined: Mar 2009
Posts: 19
Phoenixsuns is an unknown quantity at this point
Default Trading UK shares from the US

Hi,
A good friend , who has dual nationality, living in the US has paper shares in the UK

Seeking advice on how he can continue to trade shares in the UK, ideally with exposure to the US market, without selling them all and incurring Capital gains? Seems it is very restrictive what can be done?
Advice sought please?
Many thanks
Phoenixsuns is offline  
Old Jul 23rd 2021, 9:46 pm
  #2  
BE Enthusiast
 
Joined: Mar 2017
Location: Austin, TX
Posts: 450
TexanScot has a reputation beyond reputeTexanScot has a reputation beyond reputeTexanScot has a reputation beyond reputeTexanScot has a reputation beyond reputeTexanScot has a reputation beyond reputeTexanScot has a reputation beyond reputeTexanScot has a reputation beyond reputeTexanScot has a reputation beyond reputeTexanScot has a reputation beyond reputeTexanScot has a reputation beyond reputeTexanScot has a reputation beyond repute
Default Re: Trading UK shares from the US

Originally Posted by Phoenixsuns View Post
Hi,
Seeking advice on how he can continue to trade shares in the UK, ideally with exposure to the US market, without selling them all and incurring Capital gains? Seems it is very restrictive what can be done?
Why would he expect to be able to sell an asset and be exempt from (the currently unrealized) Capital Gains?

The US taxes on worldwide income regardless of where it arises, and I don't think there's any particular treatment that you'd be able to claim.

TexanScot is offline  
Old Jul 23rd 2021, 9:51 pm
  #3  
Just Joined
Thread Starter
 
Joined: Mar 2009
Posts: 19
Phoenixsuns is an unknown quantity at this point
Default Re: Trading UK shares from the US

Thank you for this. However looking for a broker/ investor that can be used to trade/ advise.
Unfortunately many have dropped in value!
Phoenixsuns is offline  
Old Jul 23rd 2021, 10:22 pm
  #4  
BE Forum Addict
 
Owen778's Avatar
 
Joined: Jan 2014
Location: Anchorage, AK, USA
Posts: 1,320
Owen778 has a reputation beyond reputeOwen778 has a reputation beyond reputeOwen778 has a reputation beyond reputeOwen778 has a reputation beyond reputeOwen778 has a reputation beyond reputeOwen778 has a reputation beyond reputeOwen778 has a reputation beyond reputeOwen778 has a reputation beyond reputeOwen778 has a reputation beyond reputeOwen778 has a reputation beyond reputeOwen778 has a reputation beyond repute
Default Re: Trading UK shares from the US

Originally Posted by Phoenixsuns View Post
Hi,
A good friend , who has dual nationality, living in the US has paper shares in the UK

Seeking advice on how he can continue to trade shares in the UK, ideally with exposure to the US market, without selling them all and incurring Capital gains? Seems it is very restrictive what can be done?
Advice sought please?
Many thanks
I imagine most of the big brokers in the US will accept foreign shares transferred in from the UK and trade them, but doing that from paper shares may make it harder.

I was able to transfer some shares of an old employer to Fidelity and sell them there. Unfortunately, that left me with GBP in my Fidelity brokerage account, and their fees (or possibly the exchange rate, I forget) to convert small amounts to USD are not great. I have a feeling that somewhere like e-trade may be better on that front, but it's worth checking with most of the low-cost brokerages - Schwab, e-trade, Merrill Edge, maybe Vanguard, to work it out.

Personally, I wouldn't want to be trading individual UK shares from the US, other than just selling. I want to 1. Keep things simple, and 2. Avoid any issues with non-qualified dividends, and 3. Avoid any issues with PFICs (if any of the investments are unit trusts etc., rather than individual shares).
Owen778 is offline  
Old Jul 24th 2021, 3:38 pm
  #5  
Just Joined
Thread Starter
 
Joined: Mar 2009
Posts: 19
Phoenixsuns is an unknown quantity at this point
Default Re: Trading UK shares from the US

Thank you
Phoenixsuns is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2021 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.