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Posted Thu, 12 Sep 2024 09:57:33 GMT by WL0815
I own 100% shares in an overseas investment company A and 50% shares in an overseas company B, but I am not a director and the director of the investment company is a non-UK tax resident. The control and management is outside UK. The non-UK director made the investment decision for the overseas investment companies. I am expected to become a UK tax resident this year, but will claim remittance basis for all overseas income. I would like to know whether the profit of each of (1) the overseas investment company A and (2) the overseas company B will be subject to any UK tax. If so, what will be the tax rate? Thanks!
Posted Fri, 20 Sep 2024 15:26:10 GMT by HMRC Admin 32 Response
Hi,
If you claim the remittance basis, it is up to you do decide which overseas income / capital gains is not being remitted.  All other overseas income / capital gains must be declared and taxed accordingly.
Thank you.

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