eBrief No. 47/10 - Clarification re remittance basis and UK
30 June 2010
eBrief No.11/10 explained that in 2008 amendments were made to legislation to allow the remittance basis to apply to UK source income and gains. While the legislation was not retrospective Revenue noted that they were prepared to examine on a case by case basis (and subject to the 4 year limit) claims for repayment of tax where this would be due had the remittance basis applied. The income thus relieved would be taxable in future years if remitted and assuming the individual was tax resident. Revenue have further clarified (Note 2) in eBrief No. 47/10 that such relieved income if remitted in future years will be chargeable to tax where the individual is tax resident or ordinarily resident. Read the eBrief here