½Û×ÓÊÓÆµ

When are income and gains remitted?

Produced by a Tolley Personal Tax expert
Personal Tax
Guidance

When are income and gains remitted?

Produced by a Tolley Personal Tax expert
Personal Tax
Guidance
imgtext

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 guidance note discusses the legislation which applies from 6 April 2008 only, however if foreign income or gains are remitted in the current year that arose prior to 6 April 2008 then the old rules must be used, which were mostly based on case law. Understanding the old rules also remains relevant as it may be necessary to rework the history of a taxpayer’s accounts in order to determine what has been remitted in a current year. For the earlier rules and more on the transitional provisions, see RDRM36000–RDRM36470 and Simon’s Taxes E6.332AA–E6.332B.

Understanding the pre-2008 rules remains relevant as it may be necessary to rework the history of a taxpayer’s accounts in order to determine what has been remitted in a current year.

For

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+â„¢
Powered by
  • 22 Apr 2025 05:22

Popular Articles

Income tax losses ― overview

Income tax losses ― overviewIncome tax losses can arise due to a number of reasons, but not all losses can be relieved against total income and some losses can only be set against certain types of component income. The table below is a summary of the main reliefs for income tax losses.Summary of

04 Mar 2021 12:19 | Produced by Tolley Read more Read more

Loans written off

Loans written offCompanies sometimes provide directors, employees or shareholders with low interest or interest-free loans either as part of the reward package or on special occasions to help the individual meet significant expenditure. The employment income implications of these loans are discussed

14 Jul 2020 12:11 | Produced by Tolley Read more Read more

Supplies of goods and services connected with education

Supplies of goods and services connected with educationThis guidance note provides an overview of the VAT treatment of goods and services provided in connection with supplies of education. This should be read in conjunction with the following guidance notes:•Supplies of education•Local authority

14 Jul 2020 13:44 | Produced by Tolley Read more Read more