The following Private Client Q&A provides comprehensive and up to date legal information covering:
In this Q&A, we have assumed that the individual is a remittance basis user by way of claim and the bonds are non-UK situs assets for the purposes of capital gains tax (CGT).
For CGT purposes, a bond is a qualifying corporate bond (QCB) if it is a security the debt on which represents a normal commercial loan ‘expressed in sterling’ with no conversion into or redemption in another currency (section 117 of the Taxation of Chargeable Gains Act 1992 (TCGA 1992)). Bonds that are dollar denominated
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