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Posted Tue, 11 Jun 2024 07:03:13 GMT by Supercomputer99 Van Bastelaer
Hi, I have filed taxes on the remittance basis in the last two years. The foreign income was earned as GBP on an Isle of Man account. I would like to use Wise (TransferWise) to transfer this GBP cash to an EUR EU account. However, this requires me to make a transfer from my Isle of Man account to Wise’s UK account, so the money would enter the UK, and then leave the UK right away as soon as Wise makes the EUR transfer to my EU account. Would this be considered a remittance ?
Posted Thu, 13 Jun 2024 15:53:30 GMT by HMRC Admin 20 Response
Hi,
Yes - please see guidance at:- Remittance basis 2024 (HS264) Updated 6 April 2024
Thank you.

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