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Further information to my case, I am a non domicile UK resident and 2021-2022 is my first tax year in UK( landed UK on Aug 2021).
If I claim remittance basis, with my understanding, my claim is exempted from remittance basis charge. May I know that my understanding is correct?
If I am exempted from remittance basis charge, Is it a must for me to fill in box 34 or 35 of form SA109?
Your reply will be highly appreciated.
Thank you very much.
I have checked that i am a non domicile UK resident. I think i am able to claim Remittance basis.
As i mentioned, I have remitted GBP 53,298.55 to UK in year 2021 to 2022. While i am filling the form SA109, i find that there is a box 34 "amount of income you are nominating". Can I simply put the remitted amount GBP 53,298.55 in that box as the nominated income?
Your reply will be highly appreciated. Thank you very much.
I am a day trader using an overseas offshore investment account to make profit.
In year 2021 to 2022, I made GBP 158,641.97 profit total. Only 53,298.55 was remitted to UK. The rest of the amount is still keeping overseas.
From my understanding, I can use remittance basis. Only the remitted income will be charged tax and the unremitted income will not be charged any tax. Is my understanding correct?
Furthermore, can you also please tell me which form should be filled in and submitted? SA100 and SA109? do I need to submit SA106?
Your replies will be highly appreciated. Thank you.