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Where Taxpayers and Advisers Meet

UK CGT and US VCI income

fasaxc
Posts:1
Joined:Sun Jan 22, 2017 7:37 pm
UK CGT and US VCI income

Postby fasaxc » Sun Jan 22, 2017 7:46 pm

I bought some (initially unvested) shares in the UK company I worked at in 2010; then I moved to the US for 5 years. Meanwhile the shares vested. As the shares vested, I I had to pay US income tax on the difference between purchase price and vesting price (this is called VCI, I believe). I then moved back to the UK in 2015 and sold the shares in 2016. Can I claim some sort of deduction against the CGT on my UK taxes for the US VCI tax that I've already paid (the VCI tax is technically an income tax, I believe, not a CGT)? I'm worried that HMRC would see the gain from initial price to final price as the only relevant factor but then I'd be double taxed.

-Shaun

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