Ignore gains before becoming resident
An individual who becomes resident or ordinarily resident* in the UK for the first time but remains domiciled abroad may have realised gains on assets located outside the UK before he or she became resident in the UK. Those gains may be brought to the UK after that individual has become resident, but they will not be chargeable as remittances when that happens. This is because the remittance basis cannot have applied in the year the gains accrued and so TCGA92/S12 cannot apply to them.
- For 2013/14 and subsequent years ordinary residence does not need to be considered.