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Posted Thu, 18 Jan 2024 11:37:00 GMT by
Hi all, Appreciate if you could shed some light on my tax situation: - a few years ago I was on intra-company transfer from Singapore Employer to Employer's UK branch - during that time, I was UK tax resident but not domiciled in the UK, I claimed remittance basis on my Singapore income on my tax agent's advice. - I have returned to Singapore and am in Singapore now - I am considering moving to the UK again Before I move to the UK again, is there a way for me to settle my UK tax on the previously non-remitted Singapore income arisen during my intra-company transfer period, so that the rest of my money is considered "clean" (i.e. not "mixed fund" ) for the purpose of remitting into the UK when/if I move to the UK again? Thank you in advance!
Posted Fri, 19 Jan 2024 11:09:51 GMT by HMRC Admin 21 Response
Hi Miranda Lim,
Please refer to Residence, Domicile and Remittance Basis Manual
Thank you.
Posted Sun, 21 Jan 2024 10:56:15 GMT by
Hi there, Thanks for the link. After reading through, I could not find any provisions addressing my situation i.e. previously claimed remittance basis on overseas income, currently overseas but moving back to the UK. For a clearer illustration: I already had savings from before I first came to the UK, say GBP30k. I claimed remittance basis on foreign income while in the UK. The foreign income is, say GBP 10k. I sent all my UK-earned and taxed income back to overseas while I was in the UK, say GBP 20k. When I returned home from the UK, I have all the above money in one account, GBP 60k (=30+10+20). I accumulated more savings while outside of the UK, say GBP 50k. Now I have GBP 110k (=50+60) in total asset, and will move back to the UK, bringing all the money with me. How much, if any, UK tax will need to be paid on my GBP 110k total cash? This uncertainly is making me hesitant about the move, as I do not wish to 1) attract an astronomical tax bill and 2) inadvertently pay the wrong amount of tax. Please, could you clarify this. Thank you in advance.
Posted Wed, 24 Jan 2024 14:27:50 GMT by HMRC Admin 25 Response
Hi Miranda Lim,
The unremitted income declared from a previous tax year now being transferred to the UK, will be taxable in the tax year in which it is transferred to the UK and must be declared in a Self Assessment tax return.
Savings / earnings generated outside of the UK, in tax years that you are not resident in the UK, would be considered capital and not taxable when transferred to the UK.
Please have a look at the guidance on remittance basis at RDR1:
Residence, domicile and the remittance basis: RDR1).
Thank you. 

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