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  • RE: Remittance basis and arising basis

    Hi I am a UK resident and domiciled here for all purposes since 2005. I have had a rental property in India which has generated income for the last 9 years. Returns weren't filed in India due to not meeting the taxation threshold in India and also no other sources of income in India. Over this period, I have declared it as worldwide income and paid my taxes due here. This was on the advise of my previous accountant. However, I have recently changed accountants and the new one feels that I don't need to declare this income as I have not remitted it to UK. My understanding is that this is incorrect and that I need to declare this income. Could you please advise and please post any relevant links that I could share with my accountant. Many thanks
  • RE: Gift tax for cash gift from overseas

    Hello I am a British national and my parents are Indian citizens with their tax domicile in India too. Am I right in thinking that there is no need for declaring cash gifts from my parents? Is there any maximum amount that is permitted in a financial year? Lastly, could I please have confirmation that the "7 year rule" applies to only if the giftor is tax domiciled in the UK? Many thanks