Selling UK Shares Whilst Resident In Australia

Hi,

I am currently in the UK preparing to move to Australia in September. I have some shares held in the UK that I want to sell to put a deposit on a property in Australia and I am looking at the best way to do this.

In the UK I can use my CG Threshold of 11,100GBP either side of a financial year and then split the rest in 2 and pay tax on the rest. Unfortunatly my partner and I aren't married yet so I can't gift her anything.

I wondered if I only took the 22,200 from share sales to Australia and left the rest as shares in the UK, what are the rates in Australia? When I am there I can expect to earn $80,000 p/year roughly if that helps. I am just looking at the most economical way of doing it between UK vs Australia.

Thanks very much for your help in advance

Your CG threshold is only the gain you make, so you could probably take out much more than £22,200 across the two tax years.

Your CG threshold is only the gain you make, so you could probably take out much more than £22,200 across the two tax years.

So just to give an example:

You bought the shares for £10k and they're now worth £30k.

You sell half this year, half next and return £15k each time - of which £10k is your gain.

So in neither Year would you go above the Uk cgt allowance.

Your CG threshold is only the gain you make, so you could probably take out much more than £22,200 across the two tax years.

This is correct. To the OP, I would suggest that you either search for a CGT calculator online or seek some professional accountancy advice. If you have gained more than £22,200 you have done very well indeed or have a substantial share portfolio.

Subject to tax anti avoidance provisions in the UK, CGT in the UK is a non issue if you sell shares while non UK resident.

Consider CGT in Australia too - if you are not a temporary tax resident (as defined) and you sell the shares when you are a tax resident of Australia.

Best regards.