I am a British Citizen, but Non resident. I have some small UK income, so I need to do an annual tax return. Where I live, I don’t need to do a tax return as I have no income here and they only currently tax income which is remitted from overseas (which I don’t do).
I’m looking at ETFs mostly, my 212 account is in USD but I use GBP to fund so that is confusing knowing which to buy (see my last post), I’ve done some research but as a beginner I’m not sure on some tax points
Do I need to report on UK Tax return as a nonresident?
If an ETF is foreign domiciled, then according to chatGPT I don’t need to report dividends or CGT on my tax return, even if I do a tax return for my other UK income.
For UK domiciled, again chatGPT says I don’t need to include dividend or CGT, unless from UK property/land on my tax return (even I do a return for other income).
So if the above is correct will I be subject to any other taxes, will there be any withholding taxes automatically taken off, for either UK or foreign (Ireland?).
If the above is not correct, then there’s more questions to come.
Thanks