Specialist Tax News

The Remittance Basis

This applies to overseas income if you are not domiciled in the UK or not ordinarily resident, provided you have not been UK tax resident for as long as 7 out of the previous 9 tax years. If you have been so resident, you can still use the remittance basis for a specified tax year if either (a) the unremitted overseas income is less than £2,000, or (b) you pay £30,000.

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