u/PC980

Hi there,

I'm a dual US/UK citizen resident in the UK (indefinitely) with a few questions regarding my taxable brokerage account - especially trying to work out the confusing world of double taxation.

I currently hold an all world mutual fund in a US brokerage account. My understanding is that any gains on this will be taxed from a UK perspective as income (as this is a foreign fund from a UK perspective). Would it make sense for me to crystallise the gain and then move my investment to something like VT (which is a HMRC reporting fund, so would only be taxable as cap gains).

This seems like the most tax efficient solution (noting I can't hold individual stocks due to my employment), and would result in the lowest overall tax rate.

If I do follow this route, would it also make sense for me to in the future crystallise the £3,000 UK tax free allowance yearly?

Looking to see if anyone has had the same issue / if the above strategy would work?

Thank you!