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Selling a stock - when is tax applied?
in IG Trading Support - Dealing Questions
Posted
Hi there I have an ISA acount holding some US stock, my plan is to keep feeding this over 5 years and then withdraw any profits.
My simple understanding is that I would pay US withholding tax in 5 years time when I withdraw the funds to my bank account . Is this correct?
What if, say, tomorrow I see an oportunity to sell 10 of my shares at a profit with the plan to buy more next week. Am I taxed immediately when I sell the stock, or am I only taxed when I make a withdrawl from my account?
Thanks, sorry about the beginner questions!!