Question about tax on European share earnings for a UK resident

Hey there.

I hold some shares in companies listed on exchanges in Germany and Norway. I’m essentially wondering what I’m supposed to do in terms of taxes in the event of a profit when selling those and future shares. I read something about dividend taxes being reclaimable in certain jurisdictions, but I’m asking about money gained from selling shares.


In the UK you have an allowance of £12,300 per year on capital gains and £2,000 for dividends. If you earn less than that (or have the shares in an ISA) then you don’t have to do anything or pay anything. Doesn’t matter where shares are from.

If you make above that, you should be using an ISA; but if you don’t, you just report in a self-assessment the total gain. Tax is 20% on capital gains (above allowance) and between 7% and 38% for dividends above the allowance, depending on your income tax band.

As you’re mentioning UK allowances and an ISA, I don’t think we’re on the same page.
I’m specifically asking about shares listed on German and Norwegian exchanges. With other brokers. If I’m selling shares in Norway for a profit, I’m surely going to be paying some kind of tax on that profit in that jurisdiction. The same goes for Germany.

if you are in the UK it is all lumped into capital gains and you can be reported all in one box in the self-assessment (or have an ISA)

Excellent, thanks. It just seems weird that I wouldn’t be charged different rates of tax in different jurisdictions at the time of sale. Thanks again.

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I can’t comment on European taxes specifically but you can be liable to pay tax in two countries for the same gain.
If you are taxed on the gain in Europe you would still be separately taxed in the UK. There are tax treaties in place between some countries to reduce or remove liabilities so it’s worth thoroughly researching if you’re invested in Europe.