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Financial Planning / Tax Strategies


Subject:  Re: Minimise Capital Gains Tax for Non-Resident Date:  2/19/1999  12:15 AM
Author:  TMFTaxes Number:  10525 of 123001

[[I have been living, working and paying tax etc in the UK for many years now
although I am a US Citizen. I have purchased a large number of US Equities
over the last couple of years and would like to sell them this year to purchase a
boat in the US. If I do this within the UK I will be liable to 40% capital gains tax
bill, on all sales over a nominal amount. I believe - after reading your article
today - that this would be greatly reduced, if I moved back to the US and
became a resident tax-paying Citizen.]]

The problem is, as a US citizen, you are liable f