Michael Young

So, if I have a stock in an IRA that I sell (still inside the IRA so no US tax), do I pay capital gains tax in the UK on that sale (still inside the IRA) as I would in a regular brokerage account - or only get taxed on when I withdraw cash from the IRA as "interest"? This is important as I could sell and immediately rebuy all my holdings in the USA to reset the cost basis to current prices, THEN move to the UK and have zero tax to pay in the UK if I then turn round sell all the (reset cost basis) assets and take the cash out. Is the "interest" tax only on cash withdrawals or is there tax on buying and selling assets (and dividends) that remain in the IRA?

Hi - I think there is some confusion certainly for me on the definition of interest and balance on an IRA in the UK. 1. UK "Interest" seems to be US "distributions" from the IRA and ARE fully taxed as they happen? 2. UK "Balance" is the same as US "Balance" within the account so all the ongoing buying, selling, dividends etc within the account that change the account value or Balance are NOT taxed. Then lump sum vs regular distributions in the UK: distributions are counted as regular if they meet xyz criteria which seems to be monthly, annually etc and fully taxed. 3. So exceptional cased like liquidating all IRA's at once would be a lump sum distribution NOT taxed in the UK (but would be in the US)? Are these statements correct (plus any clarity on Lump Sum eg. Liquidating multiple IRA's on an irregular basis)?