Hi, Admin. Thank you very much for your reply. This helps me to understand more on the remittance charges and how it works. Below is my case :
I am a UK tax resident starting from 2021 with non-domicile status. I am qualified for remittance basis for 7 years.
2021/2022 - personal tax paid at arising basis
2022/2023 - plan to use remittance basis for tax assessment
For 2023-2024, can I go back to arising basis for tax assessment? Kindly advise.
Hi, Thank you very much for your prompt reply. I have reviewed the attached link in details, but still have a question in mind. As I mentioned before, I had my personal tax in arising basis last year. Given that I am qualified for remittance basis for the coming 5 years, I plan to use remittance basis in this tax year. Can I switch back to arising basis next year? Kindly advise.
Hi, I am a UK tax resident with non-UK domicile status. I moved to UK last year and had chosen to report my personal tax as arising basis. May I know if I have to stick with arising basis in the future years? Or can I change my tax assessment annually as long as I still qualified for claiming the remittance basis? Kindly advise.