I am aware that UK individual investors in non-UK funds are taxable on their investment gains in two contrasting ways, at rates of either 20% or 45%. The lower tax rate is only available for proceeds from a fund with UK Reporting status. Proceeds from funds with non-reporting status are treated as income.
Does this apply to shares as well. Say for example someone has bought shares in the USA of USA based companies. (i.e. Not via a fund but by the purchase of company shares like Cisco, Intel, Microsoft etc.). How are these gains taxed when the shares are sold? Are they classed as capital gains or income?
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