In this tax year I am going to realise some capital gains through the sale of shares in investment funds in Spain (this would be the equivalent to UK's OEIC - the kind of funds that are usually bought in a fund supermarket). These gains will be taxed by the Spanish government (at a 19%).

However, at the moment I am a living and working in the UK (4 years - I do not have permanent residency status yet)), so I have some doubts on how to proceed with the HMRC:

  • Do I need to fill in a self-assesment to declare this gain?

  • Since it is a relatively small amount (less than 5k£). Would this somehow be included in the Capital Gains allowance?

  • If it is included in the Capital Gains allowance (and since I am going to need to pay a 19% tax to the Spanish government anyway), can I claim for any kind of foreign tax relief? (either to get back some of the taxes paid to the Spanish government, or to reduce the amount of tax that I may owe due to other UK investments).


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