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  • RE: Tax filing on remittance basis

    Hi HMRC Thank you for the link provided, unfortunately I was not trying see if I need to pay RBC. My main question is: assuming I Do Not need to pay RBC and I am claiming remittance basis, with foreign unremitted income of GBP68,000, I should the full amount 68,000 into Box 34. And then give details of the breakdown of 68,000 in Box 40, Say Bank A - 34,000 and Bank B - 34,000 Please confirm if my above understanding is correct. Apologies I did not make my question clear before. Many thanks for your help.
  • RE: Tax filing on remittance basis

    Hi HMRC I just want to clarify for SA109 form, under Box 34 - amount of income you are nominating - Assuming that I am claiming remittance basis, if I have foreign unremitted income of GBP28,000 for example, I should enter 28,000 into Box 34. And then give details of the breakdown of 28,000 in Box 40, Say Bank A - 14,000 and Bank B - 14,000 If the above is correct, I am then confused by the statement - The Remittance Basis Charge (RBC) is IncomeTax, Capital Gains Tax, or a combination of both, charged on unremitted foreign income or gains on the arising basis. When you pay the RBC you must tell us on what income or gains the RBC is chargeable by nominating the appropriate income or gains. You do this by putting theamount of nominated income in box 34. I currently do not need to pay RBC. But the above statement appears to suggest that you only need to put the unremitted foreign income figure if and when you need to pay RBC. I read a few threads from the community and it is not very clear what I should put in box 34 under my circumstances. Many thanks