We are actually running into issues remitting the money and having trouble getting a straight answer from our current accountant. We have been been told that all of the money we brought over (post US estate taxed) is subject to remittance. Does this sound accurate or even possible?
I can understand that any interest or gains are subject to remittance - but does HMRC consider all funds income. For example - if one received an inheritance that was worth £100,000 (after all estate taxes have been paid) and £75,000 is brought into the UK. Is one responsible to pay update to 45% tax on the entire £75,000?