Have you claimed Remittance Basis Tax?

September 24, 2018

 

 

Are you a non-domiciled taxpayer who has claimed the Remittance Basis in a previous tax year?

 

Would you like to bring money into the UK but felt unable to, as you have an account containing many different income sources such as: untaxed unremitted income, capital gains as well as clean non-taxable funds and other tax efficient monies?  If so you may be able to take advantage of the Mixed Fund Cleansing rules which took effect from April 2017.

 

Until 5th April 2019 you are able to un-mix any bank accounts that may contain income sources taxed at different rates.  However, this is a lengthy process and to take full advantage of these concessionary rules, you now need to act promptly.

 

If you would like further advice or assistance on how to minimise your tax liabilities on funds moving into the UK, please contact get in contact with our friendly team and find out how we can help.   

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