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Where Taxpayers and Advisers Meet

Whether to report foreign capital gains if less than HMRC capital gains allowance?

platplaas
Posts:1
Joined:Fri Nov 15, 2019 6:49 pm
Whether to report foreign capital gains if less than HMRC capital gains allowance?

Postby platplaas » Fri Nov 15, 2019 7:03 pm

I was previously under the mistaken impression that capital gains in Canadian RRSP investments don't have to be reported to HMRC. I had assume that the 25% withholding tax applied when cashing-out the RRSP was the end of obligations, but my current understanding is that you do, after all, have to pay capital gains taxes on any gains within an RRSP.

In my case, the RRSP capital gains would be less than the HMRC capital gains allowance, hence my question:

Do I need to report foreign capital gains if less than the HMRC capital gains allowances?

DavidTreitel
Posts:271
Joined:Thu Aug 16, 2012 4:31 pm

Re: Whether to report foreign capital gains if less than HMRC capital gains allowance?

Postby DavidTreitel » Mon Nov 18, 2019 10:12 am

Are you certain these are not Offshore Income Gains, rather than capital gains?


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