Clarification on Remittance for International Investments

Hi, I used to live in Switzerland and have recently moved to the UK. While in Switzerland, I invested internationally through Interactive Brokers LLC (US based stock broker), purchasing US-based stocks. However all UK/Europe based USD cash holdings are maintained with the UK entity of Interactive Brokers internally. Now that I am a tax resident in the UK, I seek clarification on whether my cash holdings or capital gains from selling stocks in this account are considered remitted to the UK. Specifically, I would like to know if the remittance occurs only when I move the funds from the Interactive Brokers account to a UK-based bank, or if the mere holding or transacting within this account constitutes remittance. To provide additional context: I do not purchase UK resident stocks with this account. All transactions happen outside the UK, and the stocks are purchased on foreign exchanges. I do not believe a remittance has taken place with these stock purchases since all transactions are conducted outside the UK. I would appreciate confirmation of this understanding to complete my self-assessment accurately. Thank you for your assistance. Kind regards, [Your Name]

Hi mailgvuk1,
Income and Capital Gains Tax are charged in the UK, using the arising basis.
As a UK tax resident, by default, you are taxable on your world-wide income / capital gains using the arising basis, regardless of whether you remit the income or gains to the UK or not.
Even if all transactions ocurr outside the UK on foreign exchanges, the gains are taxable in the UK and should be declared on a Self Assesment tax return.
If you are UK resident but not UK domiciled, then you have the opportunity to use the remittance basis instead.
Please have a look at the guidance here:
Residence, domicile and the remittance basis: RDR1
As this is not always the best option.
Thank you. 

Thank you for your assistance. I understand that declaring capital gains is necessary regardless of remittance. However, I seek clarification on a specific point: Does having a cash holding in a brokerage account registered in the UK count as a remittance under the remittance basis of taxation? Or is it only considered a remittance if the money is transferred to a UK-based bank account in my name? Please note that I cannot make payments directly from the brokerage cash holding; it can only be used for reinvestment or transferred to a bank account, either in the UK or overseas. Thank you for your help in understanding this matter.

Hi mailgvuk1,
If the account is in the UK this would be UK income and need to be declared if it gnerates anything or is used to pay for anything.
Thank you. 

Hi, My question is not about what needs to be declared, but rather what counts as a remittance. If the cash holding is under an Interactive Brokers account and there is no bank account in my name, does this still count as a remittance? I can declare it without any issue; I just need to understand whether it counts as a remittance under the remittance basis of taxation. Thank you.

Hi mailgvuk1,
Commonly foreign income and gains are ‘remitted to the UK’ if they (or something deriving from them) are:
brought to, or received in, or used in the UK by you or another relevant person
brought to, or received in, or used in the UK for your benefit or that of another relevant person
used to pay for a service provided in the UK to you or another relevant person
used to pay for a service provided in the UK for your benefit or that of another relevant person
used outside of the UK for a relevant debt in the UK
A remittance will not only occur if you remit the actual or original foreign income and gains to the UK. You will also make a remittance if you remit something that derives from them to the UK.
Thank you.