Interactive broker HK or Interactive broker UK

Hi, May I ask for clarification that after I become a UK Tax resident, I need to change my Interactive broker account from Hong Kong to UK? What if after I become a UK Tax resident, I am still using Interactive broker HK to do trading and invest US ETF, like QQQ, VOO which should not be offered to UK retail clients without the provision of a Key Information Document (KID) unless clients are Professional Investor, for your reference, I am an non Professional Investor. Thanks.

Hi,

You would need to check this with a financial adviser as the matter of which trading platform to use is not for HMRC to determine.

Thank you.

Thanks for your reply, But May I know if HMRC will decide that it is illegal for me and give me any form of punishment for using IBHK to invest US ETFs like QQQ, VOO which should not be offered to UK retail clients without the provision of a Key Information Document unless clients are Professional Investor, for your reference, I am now a UK Tax resident and not an non Professional Investor, using IBHK, instead of IBUK?

Hi,

As the rules aroung offshore funds is complex, we would advise you to contact the collective Investment Scheme Centre directly as they are a specialist team who deal with these types of queries. This type of query is a little too specialist for us to help with and the investment funds manual is a little vague.  

Guidance on contacting the team can be found at:

How to contact the Collective Investment Schemes Centre

Thank you.