A non-UK tax resident, who is the controlling shareholder, holds 51% of the shares in a UK limited company. If the shareholder disposes of his shares, what are the UK tax implications for the individual? 

Arthur Weller replies  

If the company is not a 'property-rich' company, the non-UK resident should not be liable to UK capital gains tax (CGT) on the disposal of his shares. This assumes that the individual is not 'temporary non-resident' (see HMRC’s Residence, Domicile and Remittance Basis Manual at RDRM12600). However, if the company is property-rich (see HMRC’s Capital Gains Manual at CG73930P), this is an 'indirect disposal' and the shareholder is liable to UK capital gains tax on the disposal of his shares.