Brokerage account

Hi, I'm non-UK domicile and just relocate to UK. We have 3 brokerage accounts (A, B, C) where we make investment on non-UK ETF/stock. We plan to use remittance basis. If we decide to withdraw cash from brokerage account A into our clean offshore bank account (with the intention to bring in UK in a few years under remittance basis), may I know if "offshore transfer" rule apply? And the appropriate proportion of each category of money is by de-composite the brokerage A, or brokerage A+B+C? If we withdraw cash directly from brokerage account A into UK bank account, then s809Q ordering rule apply on this brokerage account A? Thank you April

Hi al1918,

Please refer to guidance at :

RDRM35420 - Remittance Basis: Amounts Remitted: Offshore Transfers: Offshore transfers - composition of transfer

and

RDRM35410 - Remittance Basis: Amounts Remitted: Offshore Transfers: Offshore transfers - composition of a mixed fund

Thank you. 

 

As remittance basis user I'm investing in a Opaque Funds with UK Reporting Status. Am I right that I have no UK tax on income and gain to report from this Opaque fund, unless those income and gains that have been remitted to the UK? Thank you

Hi,

You can refer to the guidance here:

Paying tax on the remittance basis (Self Assessment helpsheet HS264)

Thank you.