dingdong

Please could you point me to the guidance notes which clearly define or explain what "nominated foreign income" and "nominated foreign gains" are?

Hi HMRC Admin, many thanks for your detailed response. Since I have been resident in the UK for less than a year at the end of the relevant tax year (and less than 2 years to date), am I liable to pay RBC? Is RBC only payable where the taxpayer has been resident in the UK for more than 7 (or 12) out of the past 9 (or 14) tax years? If RBC is not payable in my case, is there any detail I need to provide in the "Tax calculation summary"?

[sorry, I just noticed a typo in my earlier post, mistakenly referring to box 34 as box 40, hence this revised post:] Hi HMRC Admin, I am in a similar position to the original post - trying to submit a revised tax return to opt for the remittance basis of taxation for the previous tax year in respect of the interest I had earned on my savings in foreign bank accounts. Regarding the declaration in box 34, is this the amount of such foreign saving interest I had earned and had not remitted to the UK, whether or not I have any intention of remitting the amount to the UK at a future date? In other words, do I leave the amount blank if I intend to let the money remain in an overseas bank account?

Hi HMRC Admin, I am in a similar position to the original post - trying to submit a revised tax return to opt for the remittance basis of taxation for the previous tax year in respect of the interest I had earned on my savings in foreign bank accounts. Regarding the declaration in box 40, is this the amount of such foreign saving interest I had earned and had not remitted to the UK, whether or not I have any intention of remitting the amount to the UK at a future date? In other words, do I leave the amount blank if I intend to let the money remain in an overseas bank account?