Four key factors determine whether investments are suitable for remittance basis users from a UK tax perspective, write Dominic Lawrance and Catrin Harrison (Charles Russell Speechlys).
It is generally well known that UK residents who are neither domiciled in the UK nor deemed domiciled in the UK may elect to be taxed on the remittance basis (ITA 2007 Part 14 Chapter A1) rather than the arising basis. Remittance basis users (RBUs) will be concerned as to the suitability from a UK tax perspective of investments that they may acquire. In this article we will consider the factors that are relevant when determining whether investments are suitable for an RBU making the assumption that such investments are or will be personally held. Potential investments will then be categorised according to their degree of suitability distinguishing between:
investments that are generally unproblematic in other words...
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Four key factors determine whether investments are suitable for remittance basis users from a UK tax perspective, write Dominic Lawrance and Catrin Harrison (Charles Russell Speechlys).
It is generally well known that UK residents who are neither domiciled in the UK nor deemed domiciled in the UK may elect to be taxed on the remittance basis (ITA 2007 Part 14 Chapter A1) rather than the arising basis. Remittance basis users (RBUs) will be concerned as to the suitability from a UK tax perspective of investments that they may acquire. In this article we will consider the factors that are relevant when determining whether investments are suitable for an RBU making the assumption that such investments are or will be personally held. Potential investments will then be categorised according to their degree of suitability distinguishing between:
investments that are generally unproblematic in other words...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
