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Posted Fri, 18 Nov 2022 19:26:41 GMT by al1918 YU
Hi, I'm non-UK domiciled person just relocate with company to UK. I open online broker account few yrs back when was working in HK, the holdings are all ETF, including US domicile ETF, UK domicile ETF and Ireland domicile UCITS ETF As a non-domiciled, I'm looking to claim my foreign income under the remittance basis. According to HMRC "Foreign income is anything from outside England, Scotland, Wales and Northern Ireland." 1. Am I right to assume that since this is offshore brokerage so every income/gain from account is considered foreign income? 2. And if I'm wrong on 1. then does it mean I should review the "domicile" of these ETF: 2.1: dividend/gain from UK domicile ETF: this is considered as my UK income, so I have to pay dividend/CGT tax. 2.2: dividend/gain from Ireland domicile UCITS ETF and US domicile ETF: this is considered foreign income, and since I'm non-domicile I don't need to pay tax under remittance basis 2.3: I also own employee shares which is US listed and pays dividend, is it considered foreign income? Thanks
Posted Tue, 22 Nov 2022 12:15:32 GMT by HMRC Admin 32
Hi,

Guidance at RDRM33050 gives practical examples of remittances to the UK. While the list of examples is not exhaustive, it is likely that your trading in this way will attract UK tax, as there are may other ways in which remittances can occur.  

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

Thank you.

 

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