This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Capital gains on sale of foreign securities

valec
Posts:2
Joined:Tue Oct 31, 2017 2:29 pm
Capital gains on sale of foreign securities

Postby valec » Tue Oct 31, 2017 2:35 pm

Hi. I'm really confused as to how to calculate my CGT for 2016-17 and I need your help, please!!!
My capital gains from the sale of security in a Swiss account amounted to £4127. I paid £1114 of Withholding tax. How do I calculate the CGT????
Thanks in advance!

pawncob
Posts:5097
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Capital gains on sale of foreign securities

Postby pawncob » Wed Nov 01, 2017 1:09 pm

Are you sure it's tax on a gain. There's no witholding tax on gains in Switzerland.
https://www2.deloitte.com/content/dam/D ... s-2017.pdf
With a pinch of salt take what I say, but don't exceed your RDA

valec
Posts:2
Joined:Tue Oct 31, 2017 2:29 pm

Re: Capital gains on sale of foreign securities

Postby valec » Thu Nov 02, 2017 12:09 pm

Thanks for your reply, pawncob. The thing is that in my tax statement it clearly states "Witholding tax levied according to article 19 paragraph1". And in the bank statement it reports the same amount (£1114) as tax on redemption of securities. For this reason I wonder if I should deduct such tax from the capital gains as part of the calculation. Very confusing indeed!! thanks for your help!


Return to “Capital Gains Tax, CGT”