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Remittance basis

This section is accessed via the data input tab within the tax return and is used to elect the remittance basis. For more help on the remittance basis see the HMRC guidance notes.

  • ‘Making claim for remittance basis?‘ Tick the box to claim the remittance basis.
  • ‘Unremitted income and gains below £2000?‘ Tick the box if unremitted income and gains are below £2,000.
  • ‘UK resident in current year and 12 of last 14 years?‘ Tick the box if the tax payer is UK resident in the current year and 12 of the last 14 years.
  • ‘UK resident in current year and 7 of last 9 years?’ Tick the box if the tax payer is UK resident in the current year and for 7 of the last 9 years.
  • ‘Under 18 at end of taxyear?‘ Tick the box if the tax payer is under 18 at the end of the tax year. This box will be ticked automatically if the date of birth has been entered correctly and the tax payer is under 18 on 5th April.
  • ‘Amount of income nominated’ If unremitted income is not less than £2,000, enter the sterling equivalent amount of income nominated for the remittance claim.
  • ‘Amount of gains nominated’ Enter the sterling equivalent of the gains remitted.
  • ‘Adjustment to payments on account for capital gains’ This field should be entered if any gains have been nominated. Only the Income Tax element of the Remittance Basis Charge is taken into account in calculating payments on account. Enter the amount of Capital Gains Tax that is included in the Remittance Basis Charge.
  • ‘Remitted any nominated income or gains this year?‘ Tick the box if more than £10 of any foreign income or gains nominated in any tax year have been remitted in the current year. If the amounts cover more than one year then enter a breakdown in the additional text note.
  • ‘Dual resident claiming personal allowances under DTA?‘ Normally a tax payer claiming the remittance basis does not qualify to receive certain UK allowances, such as the Personal Allowance, Blind Persons’ Allowance or CGT Annual Exempt Amount. In some specific circumstances a tax payer who is claiming the remittance basis may be entitled to these allowances by virtue of being dual resident under certain Double Taxation Agreements. If this is the case, tick this box, then use the Residence status section to enter details of the country or countries in which the tax payer is also resident.
  • ‘Remitted income arose in a year for which remittance basis claimed?’

Claiming relief for foreign income/gains invested in qualifying businesses

Enter any investments in qualifying companies under the business investment relief provisions for remittance basis tax payers.

  • ‘Company number‘ Enter the number of the company into which the investment was made.
  • ‘Company name’ Enter the name of the company.
  • ‘Amount invested’ Enter the amount invested.

Previous investments that no longer qualify for relief

If previous investments no longer qualify for relief, enter the details here. Taxfiler will automatically include the required text note on the Tax Return.

  • ‘Company number‘ Enter the company number.
  • ‘Company name‘ Enter the company name
  • ‘Amount no longer qualifying’ Enter the amount no longer qualifying for relief.

To delete a line from the grid, click the ‘trash can’  button at the end of the line.

Additional text note for Tax Return

Enter any additional information you wish to appear in the white space of the tax return.

Useful Resources

A simple guide to Capital Gains Tax