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Paying Tax on money invested in USA

  • 09-01-2014 6:04pm
    #1
    wonder1
    Registered Users, Registered Users 2 Posts: 9 ✭


    Hi,
    Looking for some advice around paying tax on shares I own in the USA, (resident in Ireland).
    I set up a trading account in the states a few years ago, filled out all the paperwork etc. Transferred money over, ( from a UK account, I was living in london at the time), and did some trading.
    1 year later, I was down about 20% so stopped it.
    Anyway, i've re-engaged with my account (transferrred over more money from my irish account) and now my account is in the green.

    I'm wondering how does all this work from a tax stand point. Do i only have to declare & pay tax on money I bring home that was more than the money I transferred over?
    What if i transferred the money back into my UK account, would i pay uk or Irl tax then?

    And what if i didnt trade at all with some of the cash - e.g. some money I transferred over to be in a position to buy a share, but reneged on buying it. Can i just transfer this money home an carry on regardless?

    Any help guidance would be appreciated.

    Thanks


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