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Posted Wed, 10 May 2023 10:32:01 GMT by Matt
Hello Box 34 (and 35, 36) ask for an amount I am 'nominating'. however, I do not find any explanation/definition of what amount this refers to (also not in the explanation document Is this - the amount remitted to the UK in that tax year? - the amount gained abroad in that tax year? - something else? thank you for your reply 

Name removed.
Posted Tue, 16 May 2023 12:59:03 GMT by HMRC Admin 5

Please refer to further guidance here-

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

Thank you.
Posted Tue, 16 May 2023 14:10:01 GMT by Matt
Hi, Yes I saw this, that but it does not explain what is to be 'nominated' or what the amount to be nominated is in- or excluding.

kind regards

Name removed  
Posted Tue, 23 May 2023 12:52:25 GMT by HMRC Admin 32

If you are in the position to use the remittance basis and choose not to remit the income or gains to the UK, you declare it in boxes 34 and/or 35 as the amount of income or gains not remitted to the UK. You also describe the income or gains not being remitted in box 40. Any income or gains that are not remitted to the UK in the tax year they arises, are not taxable in the UK in that tax year. The income and gains do become taxable in the UK, if they are remitted to the UK, in a future tax year. For example, foreign diviends arising in 2022 to 2023 and not remitted to the UK in 2022 to 2023 are not taxable in 2022 to 2023.  If they are then remitted to the UK in 2024 to 2025, they are taxable in 2024 to 2025.

Thank you.

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