Hi,
My Australian client arrived back in the UK in November 2014, after being away for more than 3 years. He intends to stay for 2 years.
When working in Australia his employer was affiliated to the UK company that he subsequently joined when he arrived here.
In February 2015 he received a very large bonus which related to the calendar year January 2014 to December 2014. I am treating the first 10 months of this bonus as relating to when he was working and resident in Australia. The whole bonus was taxed in his UK payroll and the net proceeds paid into a US bank account.
My question is: Is he claiming the remittance basis for the overseas element of this bonus? Or is it exempt income whether remitted or not.
Thank you for any clarification.
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