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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.

This guidance note explains when income or gains are remitted to the UK. It first discusses the general rule, using examples, and then explains the exceptions and exemptions which exist.

An outline of the remittance basis can be found at the Remittance basis ― overview guidance note.

This note only discusses the legislation which applies from 6 April 2008, and deals only briefly with transitional rules. For the earlier rules and more on the transitional provisions, see RDRM36000–RDRM36470.

For commentary on the earlier rules, please click here for the pdf extract from Tolley’s Income Tax 2012/13 below:

For simplicity, the foreign exchange implications