bringing the proceeds from an offshore fund onshore?

[lockhart flawse]

I started paying into an Isle of Man based offshore fund in 2002 when I was working abroad and now, after paying in monthly for 11 years, I want to close the account and bring all the proceeds into the UK.

Am I correct in thinking I have to pay tax at my normal rate on the gains made over the period when I was resident in this country? I have had few disastrous share transactions over the last 10 years - can I off-set the losses on these against the profit on the offshore fund if I realise the losses on the shares?

Grateful for any guidance.

L.F.

[megaphone]

Even though you were working abroad were you actually a non UK resident? The criteria for being non resident are quite strict.

[lockhart flawse]

Yes - I was non-resident.