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Posted Thu, 02 Feb 2023 16:26:11 GMT by Cal
I am a US citizen non-dom who lives in the UK using a remittance basis of taxation. I transferred some of my UK savings to a ring-fenced US investment account, where it was invested in non-reporting funds. I now want to reshore part of this money. I have records of the amounts transferred in GBP and the exchange rate. What is the correct way to calculate the amount of tax owed on any gains?
Posted Wed, 08 Feb 2023 12:27:48 GMT by HMRC Admin 32
Hi,

IFM13000 is an introduction to and contents of, the guidance for non reporting funds.

IFM13000 - Offshore Funds: Participants in offshore funds

IFM13500 will provide guidance on computing offshore income gains.

IFM13500 - Offshore Funds: investors in non-reporting funds: computation of offshore income gain

Thank you.

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