Part 14Income tax liability: miscellaneous rules
C1C2C3C4C5F1Chapter A1Remittance basis
Pt. 14 Ch. A1 modified by 2003 c. 1, s. 41A(8) (as inserted (with effect in accordance with Sch. 7 para. 80 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 22)
Pt. 14 Ch. A1 modified by 2003 c. 1, s. 41A(8) (as inserted (21.7.2008 with effect in accordance with Sch. 7 para. 80 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 22)
Pt. 14 Ch. A1 modified by 1988 c. 1, s. 762ZB(3) (as inserted (21.7.2008 with effect in accordance with Sch. 7 para. 98 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 94)
Pt. 14 Ch. A1 modified by 1992 c. 12, s. 87B(3) (as inserted (21.7.2008 with effect in accordance with Sch. 7 para. 115 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 108 (with Sch. 7 paras. 116-119))
Pt. 14 Ch. A1 modified (with effect in accordance with art. 1(2)(3) Sch. 1 of the amending S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), regs. 1(1), 19(3)
Application of remittance basis
809DApplication of remittance basis without claim where unremitted foreign income and gains under £2,000
1
This section applies to an individual for a tax year if—
a
the individual is UK resident in that year,
b
the individual is not domiciled in the United Kingdom in that year or is not ordinarily UK resident in that year, and
c
the amount of the individual's unremitted foreign income and gains for that year is less than £2,000.
F2unless condition A or condition B is met.
F31A
Condition A is that the individual is not domiciled in the United Kingdom in that year and conditions A to F in section 828B are met.
1B
Condition B is that the individual gives notice in a return under section 8 of TMA 1970 that this section is not to apply in relation to the individual for that year.
2
The amount of an individual's “unremitted” foreign income and gains for a tax year is—
a
the total amount of what would (if this section applied) be the individual's foreign income and gains for that year, minus
b
the total amount of those income and gains that are remitted to the United Kingdom in that year.
Pt. 14 Ch. A1 inserted (21.7.2008 with effect in accordance with Sch. 7 para. 81 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 1 (with Sch. 7 paras. 85-89)