Remittance basis

15 June 2006

Issue: 4062 / Categories: Forum & Feedback

I would welcome readers' comments in connection with the remittance basis applying to individuals resident, but not domiciled, in the UK.
If foreign dividends credited to a foreign bank account are withdrawn in cash and the currency, or sterling equivalent, is brought into the UK there does not seem to be any doubt that the amount brought into the UK constitutes a remittance to the UK. Do readers agree that the taxable amount is the whole amount of cash brought into the UK irrespective of whether or not it is all spent here?

I would welcome readers' comments in connection with the remittance basis applying to individuals resident but not domiciled in the UK.
If foreign dividends credited to a foreign bank account are withdrawn in cash and the currency or sterling equivalent is brought into the UK there does not seem to be any doubt that the amount brought into the UK constitutes a remittance to the UK. Do readers agree that the taxable amount is the whole amount of cash brought into the UK irrespective of whether or not it is all spent here?
If the cash is not all spent here and part is taken back outside the UK do readers agree that if the unspent amount is subsequently brought back into the UK again there is not another taxable remittance of that amount as it has already been taxed here as part...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Subscribe Now...

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.

Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.