You’re offline. This is a read only version of the page.
I have a few questions in regards of remittance basis.
I am considering working on a consulting basis for a South African company, the work will be performed in the UK and would involve software development and consulting over phone.
Payment for this work would be made by the South African company to my South African bank account.
1 - If taxed on the remittance basis, my understanding is that the tax on this income will be deferred until I bring the money (or anything purchased therewith) into the UK?
2 - Is national insurance applicable to this income (a) when earned (b) when it is repatriated to the UK (c) not at all
3 - I have a number of investments in South Africa, the way the investments are structured (dividend reinvestment and frequent portfolio changes) creates a mixed fund and thus makes it difficult to separate individual capital and dividend payments (I do receive a detailed summary for tax purposes though) - If employment income is retained in a separate account so that it is fully identifiable, is it permissible to apply mixed fund ordering when reporting on withdrawals from my investment accounts and declare employment income (nominated) when drawn and repatriated from that account?