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Posted Sun, 11 Sep 2022 20:20:10 GMT by VP
Assumed that I am qualified to claim under remittance basis (non-domicile), I have a question when I am filing the SA109 even I read lot of HMRC articles and links before sending this thread. In the Box 34 of SA109, it requires me to input a figure into "Amount of income you are nominating" since I put "X" in Box 28. But I dont understand what is the true meaning of "Amount of income you are nominating" . Does it mean the unremitted foreign income? Thanks!
Posted Tue, 13 Sep 2022 13:52:00 GMT by HMRC Admin 17

Income or capital gains .
You must fill in boxes 34 and 35 if you’ve put ‘X’ (only) in boxes 28, 31 or 32.

The Remittance Basis Charge (RBC) is Income Tax, Capital Gains Tax, or a combination of
both, charged on unremitted foreign income or gains on the arising basis.

When you pay the RBC you must tell us on what income or gains the RBC is chargeable by nominating the appropriate
income or gains.

You do this by putting the amount of nominated income in box 34 or the nominated foreign gains in box 35.

Tell us about your nominated income and gains in the ‘Any other information’ box, box 40.

To work out the amount of nominated foreign income, you must convert the income into UK pounds using the exchange rate at the time
the income arose.

If you’re not sure, ask your tax adviser.

If you’re calculating your own tax, include the Income Tax or Capital Gains Tax elements of the RBC in your total tax amount.

If you’re using the ‘Tax calculation summary’ page add either £30,000 or £60,000 to the amount in box 1.
Do not forget to show the loss of allowances and AEA in your tax calculation.

If you’re liable to pay the RBC you must put a nominated figure of at least £1 in either box 34 or box 35  .

Thank you.

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