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A tax too far

21 January 2009 / Sam Hart
Issue: 4190 / Categories: Comment & Analysis , Remittance basis , Income Tax
The mystery of the new remittance basis of taxation is investigated by SAM HART

KEY POINTS

  • Tax liability of offshore income brought into the UK.
  • Effect of not claiming the remittance basis.
  • When is remitted income taxable?

‘Hastings mon ami I have a petit problème with which I hope you are able to help me. I am as you know the most famous Belgian detective in all the world but even I am at a loss at how to find this missing money.

‘The problem is this: I have lived in this marvellous country for many years I was young and fit when I arrived and alas I am now old and weary but I have always been proud of my Belgian heritage.

'I consider myself to be Belgian and it has always been my intention to return there before I die.

'I am also fortunate...

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