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HMRC internal manual

Residence, Domicile and Remittance Basis Manual

HM Revenue & Customs
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Remittance Basis: Remittance Basis up to 6 April 2008: Employment Income: Capital Gains

Before tax year 2008-09 the remittance basis automatically applied to non domiciled individuals in respect of their foreign gains (TCGA92/s12). These individuals were only taxed when they remitted any gains to the UK.

However they could not get capital gains tax relief for losses arising on foreign assets for those years.

Refer to the Capital Gains Manual for information on the treatment of foreign chargeable gains that are taxable on the remittance basis.