If the US already takes a share, do we still have to pay tax in the UK?
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If you hold your shares in an ISA then there is no US or UK tax due on the sale of your shares.
Thanks, and what are the implications if they’re held in a normal non-ISA Freetrade investment account?
If tax is deducted by the US, the worst case you will be in is you will have to pay the difference in the tax if your marginal rate is higher than the amount deducted.
Edit: was thinking Income tax, but this should be CGT. As far as I know, there should be no overseas CGT (or equivalent) deducted when selling US shares, so the gain will be subject to CGT. If your total capital gain for the year exceeds the CGT exemption of £12,300. Then tax will be 10% at basic rate or 20% at higher or additional rate. But it’s only tax on the increase in value not the entire proceeds.
Uk blocks the Microsoft deal and now the stock has dropped
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Does anyone know what power specifically the UK has to block a merger between 2 US companies? I imagine it can just be ignored by MS and Activision?
They could, but then the CMA and other government agencies (both UK & elsewhere) may cause larger problems down the line…
Eg tax issues, HMRC won’t work with them and offer discounts but go after for full amounts.
It’s opposed by Canada and the US government is going to court to try to stop it.