Offshore trading account for UK non-dom

[prdo]

I am a UK non-dom who arrived in the UK one year ago from Asia.
I have offshore income which I would like to invest in US stocks without paying CGT.

I have an offshore account with HSBC however their trading is onshore and liable to UK tax because it is remitted.

What is the procedure to open an offshore trading account? Any recommendation how to do so?

Thanks you
Prdo

[tax me less!]

Use a broker that does not clear trades through the UK - eg a domestic US brokerage house.

You will still lose your personal allowance & annual CGT exemption if you claim the remittance basis so this may or may not be worth claiming.

[wamstax]

remember that you may have to pay the UK Non-dom membership fee if you claim remittance basis

see the attached link
http://www.hmrc.gov.uk/cnr/res-dom-faqs.htm

regards and hope it helps
bill@wamstaxltd.com
http://www.wamstaxltd.com

[tax me less!]

The £30,000 charge does not apply until after 7 years of UK residence - right now it is just the annual UK allowances that are at stake.