Adam Thompson, tax manager at expat finance specialists The Fry Group, answered this question.

“The Fry Group can only offer UK tax advice, and we would advise that you seek local advice in Austria as well to ensure that you are familiar with your position and obligations there.

“From a UK point of view, your exposure to tax would depend on your residence and domicile position. If you would like for us to review either or both of these, please let me know.

“If you are non-UK resident, then you are only liable to UK income tax on UK source income. This would however include UK-based shareholdings even if held through an offshore portfolio. While you remain non-resident for UK tax purposes there will be no capital gains tax on gains realised within your investment portfolio. However, depending on how long you remain non-resident for UK tax purposes, you may be liable to a charge to capital gains tax on your return for assets sold while non-resident.

“If you would like us to provide specific advice tailored to your own circumstances, we would need some more detailed information from you.”