Capital gain tax in UK

Discussion in 'Taxes and Accounting' started by Jain546, Jan 22, 2019.

  1. Jain546


    Hello :)

    Currently I live and work in France. Iam thinking of relocating to UK and get a job there. My incomes are not high but trading help me to raise it up. So I am wondering about the capital gain tax in UK.

    1/ In France we have a 30% flat tax. No CGT allowance. If I understand it correctly in UK there is 0% tax on the first £11,300. And the remaining would be taxed 10%, 20% or a mix of both depending of the level of my capital gains and my other incomes. Am I correct ? It sound really good in comparison with France !

    2/ As far as I know, if I stop working and just trade for a living here in France I will quickly be pushed to open a company in order to continue. And taxes will be high (I have heard it is up to 60%). How about UK ? What will happen to me if I lose my job and just trade for a living ?

    Thank you !
  2. ZBZB


    Last edited: Jan 22, 2019
  3. southall


  4. ZBZB


  5. With regards to your second question. Tax regulation is complex and I have no definite answer. However, it is my impression that in most countries the distinction between capital gains tax and being taxed as a business does not depend primarily on whether you have a job or not. Usually factors such as volume of trade, frequency, education and whether you have worked in the financial industry are more important.
  6. southall


    It has been a long time since i read the tax manuals at HMRC.
    But from what i recall if you are directional trading then it will be capital gains, but if your profits came more from a market making style of trading then they could be classed as income tax.
  7. ZBZB


  8. Visaria


    Nah, you can do what you's all tax free.
  9. Visaria

  10. zdreg


    what about the stamp tax on transactions?
    #10     Jan 23, 2019