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Finance Act 2012

Increased Remittance Basis Charge

247.Under section 809H ITA, individuals who have been UK resident in at least seven of the nine preceding tax years are required to pay an annual charge of £30,000 to access the remittance basis.

248.Part 1 of the Schedule introduces an increased annual charge of £50,000 payable by individuals who have been UK resident in at least 12 of the preceding 14 tax years. Those individuals who have been UK resident in at least seven of the nine preceding tax years and who claim the remittance basis will still be required to pay the annual charge of £30,000.

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