Uk Tax

[fanciman]

If you are a Brit, living in Thailand or elsewhere, and use a UK based Investment Trust to save money, do you have to pay tax on your savings/gains etc.?

Is there somewhere nice to get a good idea of the situation?

[naka]

On Uk unit trusts etc. the tax is deducted at source However capital gains are not charged IF

you are out of the country long enough.

Lookee Here

Naka

Edited February 24, 2008 by naka

[rgs2001uk]

fanciman,

i am taxed at source on the dividends of my investment trusts.

until a few years ago i could claim ( and have claimed ) back the tax, however i beleive the laws have now changed.

i am not ordinarilrly resident for tax purposes in the the uk, and have filled in the appropriate forms with the bank etc to allow myself to be paid gross interest into my bank account

i havent lived in the uk for 18 years so dont keep up to date with the rules, thats what the stock broker, accountant is for.

what investment trusts do you have? i hold, witan, monks, law & debenture and alliance (first & second).

i believe there is no tax on the savings, but depending on your buy/sell price, and the amount you hold there may well be cgt to be paid, however unless you have made hundreds of thousands it shouldnt be a problem when you come to sell.

good luck