Saurabh

Thanks, yes I will be taxed on my worldwide income for the first time this year under arising basis. My foreign income for each of the last 7 years has been £30,000 but I haven't paid any UK tax on that because of opting for remittance basis. My foreign income this year will be the same as well. Would I be freely able to remit that £30,000 to UK after paying tax this year? Or will there be any charges over and above that. Thanks

Thanks for this but this (the nomination of foreign income) does not apply to me since I intend to start using arising basis for taxation this year onwards and will be paying tax on my global income. My question is that now that I will be paying tax on my global income, am I eligible to remit only that particular foreign income (earned this year and taxed in UK) to UK without any additional taxes? Many thanks

Hello, I have claimed remittance basis for last 7 years since becoming UK resident. This year I will be taxed on arising basis. My foreign funds are mixed funds and the only source of my income is annually recurring and taxed foreign interest income equivalent to GBP 30000. I have two simple questions: 1. If I need to remit my foreign income of £30,000 this year to UK, how much tax do I need to pay. 2. Will this remittance be considered to be coming out of this current year's interest income (and not earlier years when I claimed remittance basis)