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Posted Thu, 20 Jun 2024 09:02:21 GMT by AA L
My spouse had gifted me a UK corp bond which is now in my non UK account. My spouse reported income on an arising basis, and I report income on a remittance basis. For the coupon income received from this UK corp bond, I would not remit it to the UK. In this case, is it correct that the income is not taxable as long as I have not remitted it to the UK? And, I just need to declare the income in the non remitted item on the SA109 form? For my spouse, is there any reporting he needs to do? Many thanks
Posted Tue, 25 Jun 2024 14:27:27 GMT by HMRC Admin 19

You can see guidance here:

Remittance basis 2024 (HS264)

Thank you.
Posted Tue, 25 Jun 2024 14:49:26 GMT by AA L
Hi HMRC, Thank you. Am I correct to say that: 1. Income from a UK corporate bond kept offshore (in a non UK financial organisation) can be treated as non UK source of income as the income is received and kept offshore. 2. For income tax reporting purpose, I only need to report the tax based on my own circumstances, and the fact that the bond was transferred to me from my spouse is not relevant. Thank you

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