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Untangling remittance basis concepts relating to the income and capital gains of non-domiciled clients

To get actionable insight and practical guidance to support you day-to-day on 'Remittance basis ' click here.

 
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KEY POINTS

  • Is the remittance basis still appropriate?
  • Recent changes to the remittance basis.
  • Understanding the different forms of the remittance basis.
  • Paying the remittance basis charge and payments on account.
  • The irrevocable capital loss election.

There is much to consider for those eligible to claim the remittance basis for income tax purposes and one of the side effects of the introduction of a statutory residence test on 6 April 2013 is that there may well be an increase in the number of individuals who will need to get to grips with this basis of assessment in future.

Some...

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