FT Ignites Europe quote Dominic Lawrance on the use of the UK's remittance basis
In an article for FT Ignites Europe, Dominic Lawrance, Partner sheds light on the complexities of the UK's remittance basis regime.
"The remittance basis is undoubtedly a feature of the UK tax regime that is attractive to wealthy, internationally mobile individuals."
He continues to say that determining when use of the remittance basis for tax makes financial sense "can be quite complex" because of the different factors to consider.
For example, if foreign income or gains are brought to the UK, then a remittance tax basis "is pointless" as these will be taxed in the UK.
He adds that the regime is "particularly beneficial" for foreign-born individuals with significant invested wealth.
Dominic's comments were first published in FT Ignites Europe (subscription required).