I am a dual UK and USA citizen, tax resident in the UK. I have capital gains from sales of shares.
Some questions:
1) Will I have to pay capital gains to the US government or am I exempt under double taxation treaty if I pay UK capital gains?
2) If I do have to pay US capital gains, can I offset what I pay the US government against capital gains liabilities in the UK?
3) Since US and UK have different tax calendars, how to avoid double paying when the periods don't overlap?
Thanks for your help.
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