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Where Taxpayers and Advisers Meet

Remittance to the UK from prior years

abhijitjoshi
Posts:1
Joined:Sat Jun 03, 2023 4:19 pm
Remittance to the UK from prior years

Postby abhijitjoshi » Sat Jun 03, 2023 4:24 pm

Hi, I have a query about remittance of foreign income to the UK. If started working in the UK in 2003 and became domiciled in the UK in 2008. Since the tax year 2008-09, I have been paying tax on my foreign income on an arising basis. I now wish to remit my money from 2003-2007 i.e. when I was not domiciled and did not pay any tax because I did not remit any income. How should this be declared on my self assessment? Would it be under "Remitted foreign savings income"?

AGoodman
Posts:1723
Joined:Fri May 16, 2014 3:47 pm

Re: Remittance to the UK from prior years

Postby AGoodman » Mon Jun 05, 2023 10:36 am

Yes, assuming it is savings income (i.e. interest)

Integraoutsourcing
Posts:10
Joined:Wed Apr 12, 2023 12:55 pm

Re: Remittance to the UK from prior years

Postby Integraoutsourcing » Tue Jun 13, 2023 8:11 am

When remitting foreign income to the UK, the tax treatment depends on your domicile status and the tax years involved. Although domicile is a complex legal concept, its determination can have significant tax implications. Since you mentioned that you became domiciled in the UK in 2008, it's important to consider the relevant tax rules before that date and after.

For the tax years 2003-2007, when you were not domiciled in the UK and did not remit any income, it's generally not necessary to declare this income on your UK self-assessment tax return.

When completing your self-assessment tax return, you should focus on reporting your income for the relevant tax years based on the rules in place at the time. This might involve declaring your foreign income earned after becoming domiciled in the UK and any relevant tax liabilities associated with it.
For more info check out globalintegra.co.uk

darthblingbling
Posts:698
Joined:Wed Aug 02, 2017 9:09 pm

Re: Remittance to the UK from prior years

Postby darthblingbling » Tue Jun 13, 2023 8:24 am

They absolutely have to declare their previously unremitted but now remitted income?


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