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Where Taxpayers and Advisers Meet

Bed & Breakfast Tax on Shares

Expat1
Posts:19
Joined:Wed Jan 26, 2022 1:42 pm
Bed & Breakfast Tax on Shares

Postby Expat1 » Wed Jan 26, 2022 3:54 pm

Does Bed & Breakfast Tax on Shares apply to non residence?

bd6759
Posts:3744
Joined:Sat Feb 01, 2014 3:26 pm

Re: Bed & Breakfast Tax on Shares

Postby bd6759 » Fri Jan 28, 2022 1:24 am

It applies to the calculation of UK CGT.

Expat1
Posts:19
Joined:Wed Jan 26, 2022 1:42 pm

Re: Bed & Breakfast Tax on Shares

Postby Expat1 » Fri Jan 28, 2022 8:41 am

Hi,

Thanks for your message.

If a UK Non Resident does not qualify for UK CGT then would Bed & Breakfast apply?

bd6759
Posts:3744
Joined:Sat Feb 01, 2014 3:26 pm

Re: Bed & Breakfast Tax on Shares

Postby bd6759 » Fri Jan 28, 2022 3:12 pm

Apply to what?

Expat1
Posts:19
Joined:Wed Jan 26, 2022 1:42 pm

Re: Bed & Breakfast Tax on Shares

Postby Expat1 » Fri Jan 28, 2022 3:14 pm

Would bed and breakfast rules apply to a UK Non Resident who does not qualify for UK CGT. i.e. i dont pay CGT in the UK, so would bed and brekfast rules apply?

Thanks

bd6759
Posts:3744
Joined:Sat Feb 01, 2014 3:26 pm

Re: Bed & Breakfast Tax on Shares

Postby bd6759 » Sat Jan 29, 2022 11:45 pm

Of course not.

But you question confuses me. Why would someone not resident in UK, and not liable to UK tax, be caught by any tax rules?

I am not resident in France and have no French tax liabilities, therefore I don’t worry about whether I need to comply with their rules.


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