Remittance Basis Presentation(16.10.10)

The Remittance Basis for UK Taxation ,[object Object]

[object Object],[object Object],A Seminar for the Chartered Institute of Taxation Sussex Area Branch

Introduction – What is the remittance basis? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Domicile Now UK Dom Non UK Dom – born in US UK Dom But NR (?) Non UK Dom - Father born in Corfu

Domicile ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Is difficult to change and involves long term lifestyle decisions 4

F oreign Income & Gains ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],3.1/3.1.1/3.12/3.13

Remittance Basis – Qualifying Individuals ,[object Object],[object Object],[object Object],[object Object],[object Object],Worldwide income & gains on an arising basis Arising basis for worldwide gains Remittance basis available for offshore income Remittance basis available for offshore income and gains 3.2

Remittance Basis – Claim needed? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Remittance Basis – Claim needed? (2) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Remittance Basis – Claim needed? (3) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Remittance Basis – Claim needed? (4) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Remittance Basis – Claim Required… ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],6

Remittance Basis – Nominated income and Gains ,[object Object],[object Object],[object Object],[object Object],[object Object]

Recent Tax Cases ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Gaines Cooper – the saga continues 3.2 Special Commissioners – lost High Court - lost Court of Appeal – lost Supreme Court – watch this space… No Domicile Cases recently…..

Robert Gaines Cooper ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],4.3.2

Revision of HMRC 6 (?) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],8.1

Remittance Basis – Complicated? ,[object Object],[object Object],[object Object],[object Object]

What is a Remittance? ,[object Object],[object Object],[object Object],[object Object]

What is a Taxable Remittance? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What is a Taxable Remittance?(2) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],7.1/7.2/7.3

What is a Taxable Remittance?(3) ,[object Object],[object Object],[object Object],[object Object],7.1/7.2/7.3

Who is a Relevant Person? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],7.5

Segregating Capital/ Income and Gains ,[object Object],[object Object],[object Object],[object Object],7.5

Interaction of Capital Gains ,[object Object],[object Object],[object Object],[object Object],[object Object],9

Order of remittances from a mixed fund ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],8.1

For Further Information Contact me at: Email : [email_address] Website: www.smartsolutions-online.co.uk Tel: 01883 715848 Mob: 07952 217249 Smart Solutions 88 Pollards Oak Road Hurst Green Oxted Surrey RH8 0JW

Disclaimer ,[object Object],[object Object],[object Object]

Remittance Basis Presentation(16.10.10)

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