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The remittance basis - an outline guide

UK residents who are domiciled in the UK are liable to UK income tax and capital gains tax (CGT) on a worldwide basis. By contrast, UK residents who are not domiciled in the UK may restrict their liability to UK income tax and CGT by electing for the "remittance basis" of taxation.

The practical effect of this is that such individuals are not liable to UK tax on foreign income or gains unless the foreign income or gains are "remitted" to the UK.   

For an overview of the complex concept of "remittance", click below to review our latest guide.

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Outline guide to the remittance basis - 320.7 KB

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