The short version: The remittance basis was a tax option for non-domiciled UK residents. It meant you only paid UK tax on foreign income if you brought it into the UK. Keep it offshore, no UK tax.
What’s the catch?
If you claimed the remittance basis, you lost your UK Personal Allowance and CGT allowance. After being UK resident for several years, you also had to pay an annual charge just to use it. The charge increased the longer you’d been here.
What’s changing?
The non-dom regime and remittance basis are being abolished from April 2025. The government is replacing them with a new system. If you’ve been relying on remittance basis, you need to review your position.
Does this affect you?
Only if you’re UK resident but domiciled elsewhere and have significant foreign income or gains. Most people are domiciled in the UK and this never applied to them.
Concerned about how the non-dom changes affect you? Get specialist advice on your situation.
