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Where Taxpayers and Advisers Meet

RSU, CGT , USD account

ujags12
Posts: 1
Joined: Wed Apr 24, 2019 5:06 pm

RSU, CGT , USD account

Postby ujags12 » Wed Apr 24, 2019 5:24 pm

Hi,
I get RSU's from my US based company and i have trading account in US based trader. when i sell the shares i transfer the money in UK into my USD account.

from CGT point of view when do i need to pay tax?
1. when i sell my shares and USD comes into my USD account or
2. when i dispose the USD to my UK account?

I am higher tax payer.

giving one example my company gives me 100 RSU's in 2015 , it gets matured and becomes shares in 2016. 50% of it is sold by the broker\trader for US tax. 10% comes back in my paycheck.
CGT will be the gain on top of whatever gain i have after i have paid tax.
say USD stock was 60USD in 2016 and based on it i paid tax and today its 80USD so i have a gain of 20USD per share on which i pay CGT. i do understand there is an allowance of £12000 for 2018-19.
if i sold 1000 shares. total gain will be :
60/1.5 =40£ per share
80/1.3=61.53 per share so gain is 21.53 per share ? or i divide both by current TX rate as i have already paid tax and gain is in dollars 20USD/1.3= 15.38£

so if i take 15.38£ per share x1000= £15380 is the gain. so i pay £15380-£12000= £3380 x20% = 676£ CGT.

is this right?

JFI i have all the procceds in USD account in UK bank .i have not converted it to Pounds.

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