Hi everybody,
I'm a bit confused as to whether I should be paying tax on an investment I have in the EU, so I thought I'd ask on this forum, on the off-chance someone might know the answer.
So, I currently live in the UK and have an investment contract in Germany. My (EU-based) financial adviser has told me that this investment falls under the "return of capital" category and so, as a result, it is not taxable in the UK - or anywhere else (except in Germany, where I already pay taxes on this, which are deducted at source).
According to my financial adviser, there is nothing else to do, declare or pay anywhere else. However, my wife is freaking out as she seems pretty certain I should also be paying tax on this investment in the UK. Having very little financial knowledge and being completely unfamiliar with the UK tax system, I am unsure what to do.
Any help or advice would be greatly appreciated.
All the best,
Thom
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