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Posted Fri, 15 Dec 2023 17:15:10 GMT by
Is starting rate for savings applicable to remittance basis? And what is the threshold amount?
Posted Wed, 20 Dec 2023 14:43:37 GMT by HMRC Admin 5 Response
Hi

Yes it is allowable and the same rate applies as if you were claiming the arising basis.
For remittance basis, please see guidance at Paying tax on the remittance basis (Self Assessment helpsheet HS264)

Thank you
Posted Fri, 22 Dec 2023 07:35:02 GMT by
Suppose in 2022-23, a UK tax resident has income from wages, saving interest and without other source of income. Wages are £13,000 and savings interest is £8,000. On a remittance basis, the UK tax resident has to pay £13,000 x 20% + (£8,000-(£5,000-(£13,000-£12,570)) -£1,000) x 20% = £2,600+£486 = £3,086. Please advise if it is correct.
Posted Wed, 03 Jan 2024 10:18:44 GMT by HMRC Admin 21 Response
Hi WM,
You would have your personal allowance of £12570 to set against your £13000 salary. You would then have the £1000 savings allowance set against savings interest with the balance at 20%. 
Thank you.
Posted Thu, 04 Jan 2024 07:21:14 GMT by
Does it mean on remittance basis, starting rate for saving applies as long as the wages are less than £17,570?
Posted Wed, 10 Jan 2024 18:07:31 GMT by HMRC Admin 25 Response
Hi WH,
Under the remittance basis, the starting rate for savings is not available.
You will receive the personal savings allowance of £1000 (basic rate), £500 (higher rate) or £0 (additional rate) depending on the level of income.
Thank you. 
 

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