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Posted Tue, 28 Mar 2023 13:21:50 GMT by
Hello, I am res non dom on remittance basis. I am considering investing offshore capital in an Ireland domiciled,UK reporting ETF. The ETF is listed on multiple exchanged in continental Europe as well as on the LSE in the UK. Will my offshore capital be remitted to the UK if I purchase the ETF on the Euronext Exchange? Will my offshore capital be remitted to the UK if I purchase the ETF on the LSE? Thank you.
Posted Wed, 05 Apr 2023 14:32:37 GMT by HMRC Admin 25
Hi alpha9,

Please have a look at INTM331010 - Double Taxation applications and claims: repayment claims by non-residents: contents

(https://www.gov.uk/hmrc-internal-manuals/residence-domicile-and-remittance-basis/rdrm33010)

And the practical examples at RDRM33050 under money transfers: 

RDRM33050 - Remittance Basis: Practical Examples of Remittances to the UK 

Based on the example given under Money Transfer, our advice would be that any offshore monies invested directly into the Irish ETF would not be classed as remitted to the UK, but any offshore money paid to a UK agent/stock exchange to facilitate that investment would be classed as a taxable remittance.

Thank you. 

 

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