Avoiding Mixed Fund and CGT

I

Info_Seeker

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Hi Folks,

I am a non-domiciled resident in Ireland. I created an account on Interactive Broker (IBKR) headquartered in USA.

I transferred my funds to IBKR US bank account in Germany. IBKR Account title:

Interactive Brokers LLC
One Pickwick Plaza
Greenwich, Connecticut
06830
United States

IBKR Bank name and address:
J.P. MORGAN SE
TaunusTurm
Taunustor 1
Frankfurt 60310
Germany

I invested in shares of US companies.

My IBKR investment reports and account confirmation letter also show IBKR's address of Connecticut, US.

I invested 10K in stocks. The stock price increased to 12K. I sold the stocks for 12K.

I also have a N26 bank account in Germany. My N26 account balance was zero.

First I transferred 2K (the profit) from IBKR Germany to N26 Germany. And from N26 Germany to my bank account in Malaysia for expenses in my home country.

Now N26 balance is again zero. I than did another transaction i.e. transfer 10K (capital) from IBKR to N26 and than to my Irish bank. By doing this, I am assuming that I have not mixed the funds and I will not need to pay CGT in Ireland. Looking for guidance on this.

Thanks
 
Info_Seeker said:
Hi Folks,

I am a non-domiciled resident in Ireland. I created an account on Interactive Broker (IBKR) headquartered in USA.

I transferred my funds to IBKR US bank account in Germany. IBKR Account title:

Interactive Brokers LLC
One Pickwick Plaza
Greenwich, Connecticut
06830
United States

IBKR Bank name and address:
J.P. MORGAN SE
TaunusTurm
Taunustor 1
Frankfurt 60310
Germany

I invested in shares of US companies.

My IBKR investment reports and account confirmation letter also show IBKR's address of Connecticut, US.

I invested 10K in stocks. The stock price increased to 12K. I sold the stocks for 12K.

I also have a N26 bank account in Germany. My N26 account balance was zero.

First I transferred 2K (the profit) from IBKR Germany to N26 Germany. And from N26 Germany to my bank account in Malaysia for expenses in my home country.

Now N26 balance is again zero. I than did another transaction i.e. transfer 10K (capital) from IBKR to N26 and than to my Irish bank. By doing this, I am assuming that I have not mixed the funds and I will not need to pay CGT in Ireland. Looking for guidance on this.

Thanks
Click to expand...
You can, and should separate income into a separate income account but it is not possible to extract gains by stripping them out.
 
nest egg said:
For my own info, the reason being that every cent invested has in effect risen in value?

Presumably had the OP had kept the entire 12k off-shore, there would be no liability?
Click to expand...
Yes, a capital asset that rises in value is inherently mixed.

Correct on the second point.
 
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