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Posted Tue, 28 Nov 2023 22:47:08 GMT by Joe Fong
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.
Posted Thu, 30 Nov 2023 14:59:17 GMT by HMRC Admin 25
Hi Joe Fong,
Please refer to guidance here:
Remittance basis 2023 (HS264)
Thank you. 
Posted Fri, 01 Dec 2023 14:27:21 GMT by Joe Fong
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.
Posted Tue, 05 Dec 2023 13:47:11 GMT by HMRC Admin 19

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.

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