UK Tax for Domicled Non Resident Investors

[Pueblo]

If a UK non domiciled non-resident investor sells an offshore fund (triggering a capital gain) to invest in another offshore fund, is he under an obligation to report this gain in his UK tax return. Please note that the investor doesn't remit his money into the UK.

[tax me less!]

I am not sure I understand the question.

If - say - a Vietnamese person living in Vietnam sells a Vietnamese fund then this would not be reportable on a UK tax return. Why is this any different?

[Taxbar]

I assume you mean a UK resident non-dom.

Unless the fund is a "Distributor Fund" it will be aroll-up fund and the profit will be income not CAPITAL GAIN.

You need specific advice otherwise you will get yourself in a mess.

The non-dom rules are not amenable to DIY planning!

Daniel Feingold
STP
info@stratax.co.uk

[Pueblo]

I am terribly sorry...just one of those days.

I meant to say Domiciled, but non residentÂ…for example, a British ex pat living in Hong Kong

[Taxbar]

If non-resident no Uk tax consequences.

Daniel Feingold

[tax me less!]

An on this occasion I would go one step beyond Mr Feingold, and say that having a non-distributor fund is an advantage because in my opinion the 5-year CGT rules do not apply.