½Û×ÓÊÓƵ

Dual contracts


Produced by Tolley in association with
Employment Tax
Guidance

Dual contracts


Produced by Tolley in association with
Employment Tax
Guidance
imgtext

STOP PRESS: The remittance basis is to be abolished from 6 April 2025, although this only applies to foreign income and gains arising on or after that date. The remittance basis rules still apply to unremitted income and gains arising before that date but remitted later. The legislation is included in Finance Bill 2025. For more details, see the Abolition of the remittance basis from 2025/26 guidance note.

Introduction

UK resident individuals who are non-UK domiciled under general law can, up to 2024/25, benefit from the remittance basis of taxation which allows for relief from UK tax for non-UK sources of income which are not brought in (or remitted) to the UK in any way.

Note that the non-UK domicile basis of taxation is abolished from 2025/26 onwards. Full details are set out in the Abolition of the remittance basis from 2025/26 guidance note. Most of the following guidance therefore relates to years up to 2024/25. The potential for planning via the use of dual contracts, already limited as explained below, is therefore greatly reduced

Continue reading
To read the full Guidance note, register for a free trial of Tolley+â„¢
TAKE A FREE TRIAL
Paul Tew
Paul Tew

Writer and advisor at Paywatch

Paul Tew is a freelance adviser, primarily in the areas of pay, personal taxation and remuneration planning. A frequent contributor to technical journals on pay and benefits issues, having written for the "In Business" section of the Times. Paul continues to supply articles for various recognised professional publications including Pay and Benefits magazine, Taxation magazine and Company's Secretary's Review. Paul also has had several loose leaf and bound books published on a variety of subject matter including PAYE, NIC, Sickness and Maternity Pay.Paul has written and presented training courses as well as headed up payroll and employment help desks and acted as an assessor for recognised Payroll/HR qualifications. Paul previously worked in the healthcare and oil sectors managing Pay and benefit services, so has many years of experience in dealing with PAYE and employment compliance issues across a broad range of industries and organisations.

Powered by
  • 11 Dec 2024 17:31

Home/ ½Û×ÓÊÓƵ Guidance/ Employment Tax / Managing global mobility

Popular Articles

Personal Tax

Losses on shares set against income

Losses on shares set against incomeUsually, allowable capital losses can only be set against chargeable gains. If the losses are not fully utilised against gains in the year in which they arise, the excess is carried forward to use against future gains. See the Use of capital losses guidance note

14 Jul 2020 12:12 | Produced by Tolley Read more Read more
Corporation Tax

Qualifying charitable donations

Qualifying charitable donationsCompanies can obtain corporation tax relief for qualifying payments or certain transfers of assets to charity under the qualifying charitable donations regime. Definition of qualifying charitable donationThe definition of ‘qualifying charitable donations’

14 Jul 2020 13:03 | Produced by Tolley Read more Read more
Corporation Tax

Temporary differences

Temporary differencesCalculation of temporary differencesThe temporary difference arising in respect of an asset or liability is calculated by comparing the carrying value of that asset or liability with its tax base.IAS 12 uses the concept of taxable or deductible temporary differences. Whether a

14 Jul 2020 13:49 | Produced by Tolley in association with Malcolm Greenbaum Read more Read more