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Remittance Basis

Term

Foreign earnings that aren’t brought into a UK bank account and therefore are not taxed in the UK.

If you claim the remittance basis, you won’t receive any tax-free allowances and will have to pay charges. Those claiming a non-domicile status and have lived in the UK for a minimum of 7 out of 9 tax years, charge will start at £30,000/year. By the 12th year, the charge rises to £60,000.

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