Tax for UK non-residents who trade on LSE

[antman]

Greetings all,

I live and work permanently overseas, but trade UK equities on the LSE.
I am a UK national and have a UK bank account.

My trading is starting to show some healthy profit, and I would like to know if I am liable for taxation in the UK ?

I only trade about 10 trades a month. ( at the moment!)
Any help would be much appreciated, even some contacts for tax consultants (if needed)

 

[Stu0898]

Greetings all,

I live and work permanently overseas, but trade UK equities on the LSE.
I am a UK national and have a UK bank account.

My trading is starting to show some healthy profit, and I would like to know if I am liable for taxation in the UK ?

I only trade about 10 trades a month. ( at the moment!)
Any help would be much appreciated, even some contacts for tax consultants (if needed)

Where are you based now? Do you pay income tax in the UK or where you live? What are using to trade these equities, i.e. spreadbetting, warrants, CFDs?

 

[antman]

Where are you based now? Do you pay income tax in the UK or where you live? What are using to trade these equities, i.e. spreadbetting, warrants, CFDs?

I'm based in south africa, and I don't pay any uk tax at the moment. I am likely to pay local income tax next year in SA, but not at the moment.
I'm just buying ordinary shares in stocks of large companies on e*trade platform, no forex, spreadbetting or cfd's.
Looking at the HM Revenue & Customs: Home Page I see SA is listed under the double tax treaty, therefore I'm assuming I am not liable for tax in the uk , only sa ??

 

[Stu0898]

I'm based in south africa, and I don't pay any uk tax at the moment. I am likely to pay local income tax next year in SA, but not at the moment.
I'm just buying ordinary shares in stocks of large companies on e*trade platform, no forex, spreadbetting or cfd's.
Looking at the HM Revenue & Customs: Home Page I see SA is listed under the double tax treaty, therefore I'm assuming I am not liable for tax in the uk , only sa ??

If you become a South African tax resident then it will be down to you to declare the income made from investments to the South African tax authorities. On a side note, have you not looked at investing in these equities in different ways by using CFDs, etc.?

 

[WinstonSmith]

I have found WealthProtectionReport.co.uk - Offshore Tax, Tax Havens and Overseas Property Tax Information helpful for the sort of question you're asking:

 

[antman]

Thanks for the info.
Yeah, I looked at CFD's and tried it out for few months both in simulation and then for real, but it really didn't suit me, I actually thought it would.
I'm finding it much easier to build a solid base of funds with normal share trading.
WinstonSmith, that is a great website link, and I'll definitely check it out more indepth. Thanks.