Remittance Basis

[eriksch]

Hello everyone, I have the following question:
Since moving to the UK 3 years ago I was claiming the remittance basis (I am non-domiciled).
I am considering of bringing my savings to the UK now and was wondering how it will be taxed. I don’t have a personal allowance of GBP 12.570 so I start paying 20% from the very beginning, right? But from when does it go up to 40%? Is it the same as on the arising basis from GBP 50.271?
Or are the tax rates completely different when being on the remittance basis? I am speaking solely of bringing money I have earned abroad into UK.
Many thanks!

[maths]

The normal rates of income/capital gains taxes apply.

A claim for remittance basis treatment gives rise to a loss of personal allowance and the annual exempt amount.

The taxability of any remittance depends upon the nature of the remittance which may prove complex if remittances are made out of so-called "mixed" accounts (as there are rules dictating which elements contained within the mixed account are deemed to be treated as remitted first etc).

There may also be currency implications; UK tax is sterling based.

Any remittances will of course need to be declared.

[nathan123]

The higher rate band will start at £37,700.