Remittance Basis

Dear Sir/Madam, can I please ask if claim of remittance basis will lose Personal Savings Allowance? I have overseas income of around GBP 60K and in the UK I only have around GBP 300.00 bank interest . if I claim remittance basis, will I lose my personal savings allowance of 1,000 and have to pay tax? thank you. Kind regards LT

Hi,

This depends on what amount you actually remit. You can see guidance here:

Paying tax on the remittance basis (Self Assessment helpsheet HS264)

Thank you.

I did go through the mentioned document & it doesnt mention any detail on criteria when some or all Personal Allownce is lost while claiming remittance basis. You said "This depends on what amount you actually remit" can you give an example and explain , how much income amount remitted to UK will result in loss of part or full of Personal Allownce and what is this based on ? Share those details.

Hi londa123,
Please refer to:
RDRM32040 - Remittance Basis: Accessing the remittance basis: Claiming the remittance basis: Loss of Personal Allowances and the Annual Exempt Amount
Thank you.