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Where Taxpayers and Advisers Meet

Remittances and declaration in ones tax return

Yiannis17
Posts:133
Joined:Wed Aug 06, 2008 3:43 pm
Remittances and declaration in ones tax return

Postby Yiannis17 » Thu Dec 05, 2019 10:42 am

Morning

For someone who arrived here last year from Europe and so is recently UK resident, he has brought money over after his arrival to support his living, how are the remittances declared on his self assessment tax return?

Thank you

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Remittances and declaration in ones tax return

Postby maths » Thu Dec 05, 2019 2:43 pm

Are you non-UK domiciled and if so are you intending to claim remittance basis treatment?

I assume you also arrived part way through the UK tax year.

The type of income remitted is relevant. If what you've remitted is so-called "pure capital" which not may well be then it need not be declared.How much has been remitted?

Did HMRC send you a tax return for completion?

Yiannis17
Posts:133
Joined:Wed Aug 06, 2008 3:43 pm

Re: Remittances and declaration in ones tax return

Postby Yiannis17 » Thu Dec 05, 2019 4:24 pm

Thank you for your response.

Yes Non UK domiciled and arrived part way through the 2018/19 tax year. Income was recommitted after arrival from a clean account and the amount remitted is approx 20k. Registration to complete a tax return was sent to HMRC and a UTR issued.

The remittance basis will be used and wanted to now which boxes to show this in the tax return.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Remittances and declaration in ones tax return

Postby maths » Thu Dec 05, 2019 7:56 pm

1. Ascertain whether you were resident for 18/19 and if so whether split year treatment applies.

2. If any income/gains were remitted to the UK but which had arisen outside the UK prior to becoming resident then such income/gains are not subject to UK tax.

3. If in 18/19 after acquiring residency non-UK income/gains arose which you did not remit you will also not be subject to UK tax thereon if the remittance basis is claimed for 18/19. If no such income/gains arose and you had no UK source income/gains then there would be no need to complete a UK Tax Return.


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