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  • RE: Remittance Tax? Income Tax? on Offshore Bank A/C

    Dear Sir / Madam, Sorry, I don't really, you mean even I want to transfer money from my OFFSHORE bank a/c into UK LOCAL bank a/c ANYTIME, provided that the money was earned BEFORE I become the UK resident, they are NOT subject to tax? Or, the non-taxable money only limited to the money saved in UK LOCAL bank a/c at the first date I enter UK? Any ONWARDS money from OFFSHORE bank a/c are taxable (even they are earned prior to be UK resident)? Thanks!
  • Capital Gain Tax for non UK resident?

    Dear Sir / Madam, I'm just wondering if I have a property outside UK, of which was bought before I moved to UK. I didn't sell it during the time I'm in UK. Many years later, after being the British Citizen. I live aboard out of UK and retired, but don't decide how long will it be. From my understanding, I will become the non-resident, I sell the property at that time (non-resident status). Do I still need to pay any capital gain tax for a BC non-resident? Thanks!
  • Remittance Tax? Income Tax? on Offshore Bank A/C

    Hi, I have some offshore bank A/C, which hold money I earned before I went to UK. From my understanding, they are treated as Clean Capital. And I’m allowed to remit them to UK anytime without any tax liability. There is no time limitation for exemption on remittance tax, right? Although I did not deposit any money into those A/C onwards (after I arrived UK), there are some interest income generated from those bank A/C, just small amount of money. And I had reported the lump sum of interest income earned in those A/C to HMRC on annual basis. I’m not sure, if those A/C will be treated as Mixed Capital and I will be taxable when I want to remit money to UK later on? Or, they are still treated as Clean Capital, because of the annual declaration of interest income (for income tax) to HMRC already and will not be taxable for any money remittance? Thanks so much for your kind assistance.
  • Inheritance Tax

    Hi, I had been to UK for about 2 years. And my dad died recently. He lived outside UK and didn't have any assets in UK. All assets are outside UK, including properties, shares, bonds, bank savings. From my understanding, I don't need to pay any inheritance tax, because he was not UK domicile resident. However, I'm not sure, if I want to transfer his money in bank aboard to my UK bank, will I be subject to any tax? Remittance Tax? Income Tax? Gift Tax?...or other tax? And how about the properties outsides UK? If I want to sell it, will I be subject to any tax? And shares and bonds? If I sell them and transfer money to UK? will I be subject to any tax? And which parts do I need to report to HMRC? Thanks in advance for your advices.