If you are not UK domiciled, you will only benefit from the remittance basis if your unremitted overseas income and gains are less than £2,000 or you make a claim. This claim will deny you personal allowances and capital gains tax annual exemption, and might also trigger a £30,000 tax charge. (more…)
Posts Tagged ‘Offshore’
Remittance basis
Thursday, February 4th, 2010Going to live abroad
Thursday, February 4th, 2010The tax rules have changed recently and you will need to take care if you are hoping to leave the UK and relinquish UK residence for tax purposes. You should also be aware that the approach taken by Revenue & Customs to taxpayers leaving the UK for tax purposes has hardened considerably recently, so you will need to consider your medium term plans very carefully if you wish to establish non residence. (more…)
