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Posted Fri, 02 Feb 2024 21:25:03 GMT by
Hi, I have just moved from Australia. I am seeking to claim tax residency / non-domiciled status for my assets outside the UK. I will need to create a new broker account as a tax resident of the UK. My question - If I open a Interactive Brokers UK account, and deposit only AUD and USD in (i have been told these funds are stored in accounts outside the UK, despite IBKR being a UK account, it is purely a introductory broker to IBKR US), and purchase securities only in Australia and the US, and remit none of the dividends or capital gains into the UK, is this sufficient? Does the broker themselves need to be a non-UK broker as well as the funds sitting outside the UK? Thanks in advance.
Posted Tue, 06 Feb 2024 15:38:06 GMT by HMRC Admin 5 Response
Hi

If you are resident in the UK, the you must declare your 'world-wide' income and capital gains, in a self assessment tax return, using the arising basis.  
This means that you would need to declare gains from your interactive broker account on a self assessment tax return, even if you do not bring the gains into the UK.  
As you would be non domiciled in the UK, you have the option to claim the remittance basis on a self assessment tax return.  
Please have a look a the guidance at RDR1 (Residence, domicile and the remittance basis: RDR1).

Thank you

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