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HMRC internal manual

Employment Related Securities Manual

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HM Revenue & Customs
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Remittance - up to 5 April 2015: what is remittance

The main material on what constitutes a remittance is contained in the general guidance on Residence and Domicile.

ITA07/S809L provides the meaning of ‘remitted to the United Kingdom’. Ordinarily, two conditions must be met:

Section 809L (2)

“Condition A is that -

(a) money or other property is brought to, or received or used in, the United Kingdom by or for the benefit of a relevant person, or

(b) a service is provided in the United Kingdom to or for the benefit of a relevant person.”

Section 809L (3)

Condition B is that -

(a) the property, service or consideration for the service, is (wholly or in part) the income or chargeable gains;

(b) the property, service or consideration—

(i) derives (wholly or in part, and directly or indirectly) from the income or chargeable gains, and  


(ii) in the case of property or consideration, is property of, or consideration given by a relevant person,  

(c) the income or chargeable gains are used outside the United Kingdom (directly or indirectly) in respect of a relevant debt, or

(d) anything deriving (wholly or in part, and directly or indirectly) from the income or chargeable gains is used as mentioned in paragraph (c).

Conditions C & D are less common and are not described here.

In the context of employment-related securities, where an amount of foreign securities income has been determined under ITEPA03/S41C (see ERSM160800), money or property is most likely to be shares, share options etc, or the cash proceeds from sale of such shares or share options etc.

In order for that foreign securities income to be remitted, the conditions must be met as follows:

The shares, share options etc, or any cash derived from them, must be “brought to, or received or used in, the United Kingdom by or for the benefit of a relevant person”.