The following Personal Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
Before reading this note, it is recommended that you read the Remittance basis ― overview guidance note to familiarise yourself with the wider remittance basis regime.
Most people who choose to use the remittance basis have to make a claim, see the Remittance basis ― formal election guidance note.
However, in three cases the remittance basis is given automatically. These are where, in relation to a given tax year, the individual meets any of the following tests:
* Note that these latter two automatic remittance basis cases are affected by the abolition of income tax at source on UK interest, which applies from 2016/17 onwards. This is discussed below.
The three cases of automatic remittance basis are discussed further below, but first this note considers two general points which apply to all three cases of automatic remittance basis.
Those who claim the remittance basis lose their income tax personal allowances and their CGT annual exempt amount, see the Remittance basis ― formal election guidance note.
However, this does not apply to who can access the remittance basis
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