Report foreign income for remittance basis

Dear Admin, If I choose to be taxed on the remittance basis, do I still need to complete the Foreign section in my Self Assessment? Or do I report only those foreign income that I remit into the UK? Thank you very much for your help.

Hi Joe Fong,
Please refer to guidance here:
Remittance basis 2023 (HS264)
Thank you. 

Dear Admin, Unfortunately after carefully reading through the Remittance basis 2023 (HS264) guidance, I am still not sure about it. Would you please confirm if I need to report any unremitted foreign income if I am taxed on the remittance basis? Thank you.

Hi,

In the UK, the standard is to be taxed on your worldwide income on the arising basis, by completing a Self Assessment tax return, regardless of whether you remit it to the UK or not.  

If you choose to apply the remittince basis instead of the arising basis, you would not pay tax on the foreign income you do not bring into the UK. You wouild declare the income in the residence section as unremitted. You would pay tax on all the other income.  

If you are still uncertain about this, you should consider seeking the advice of an accountant or professional adviser.

Thank you.