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Hi, my name is ***** ***** I am a Chartered Tax Advisor. I am reviewing your query and will reply shortly.
Please can you advise whether the assets in IOM have produced any income or capital gains since you moved to the UK?
Generally speaking you only become subject to UK tax on income and capital gains once you become tax resident in the UK. Since this money relates to before you became resident you should be able to transfer the $250k to the UK without suffering any UK tax charges.
Please bear in mind that when you are UK resident you are subject to tax on your worldwide income and gains. You can be treated as a UK resident as early as the 6 April before you came to live in the UK.
If you have any further questions please let me know.
Hi. Yes, you can bring it to the UK without incurring any UK tax.
Kind regards, Peter
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