Nin Ping Sunny Paul Suen
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Declaring offshore investment fund as clean capital
Greetings to the HMRC forum. Suppose I am holding an offshore investment fund that is yet to pay out, e.g. a pension fund or a life insurance savings plan. As a non-domiciled UK tax resident, can I declare it as a clean capital so that when the fund pays out in future, I can remit it partially or wholly to the UK with any tax consequences? Many thanks for your advice in advance. -
When a clean capital becomes a mixed fund
Greetings to the forum. My question is, suppose a clean capital turns into a mixed fund by virtue of it being held in a time deposit with a foreign bank in the first place, which is subsequently augmented with interest accrued in the deposit after I become a non-domicile UK tax resident. Under such circumstances, can I still "recover" the clean capital from the mixed fund, say by transferring the interest to a different foreign bank account so that the rest of the fund is of the same amount as the original clean capital and kept in the same foreign bank account as before? Your advice and suggestions are greatly appreciated. Thank you.