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ROB DURRANT-WALKER serves a livener for those dealing with short-term residents
KEY POINTS
- The remittance basis: who it applies to and making claims.
- Currency accounts and transfers between them.
- Examples of remittances and relevant persons.
- Mixed funds and the deemed order of remittances.
- Setting off foreign capital losses.
Got a long cool drink ready? The aim of this remittance basis refresher is to show that the remittance basis (RB) does not require a chemical warfare suit with which to approach it nor is it a top-ten preserve but it is still pernickety for the unprepared.
There are also some prospective changes arising from the recent consultation document on non-domiciles Reform of the Taxation of Non-Domiciled Individuals for which the publication of responses is imminent at the time of my writing this in mid-November – and these...
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