Podcast Location:
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Tax & Planning
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

  • FREE
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Course Aims:

This podcast is aimed at those who deal in tax planning for those with significant foreign sources of income or stockpiled gains. It reviews the UK’s controversial tax regime allowing non-residents to shelter the foreign assets from the UK tax net. It addresses how the mechanics of the regime work, who it is of benefit to and what difficulties it can produce for remittance basis users and professionals. The podcast also looks at the complex anti-avoidance provisions that advisors need to understand.

After completing the course you will:
  • Know what the remittance basis is;
  • Know who qualifies for the remittance basis;
  • Know how to qualify for the remittance basis, whether automatically or by election;
  • Know how much it costs to be a remittance basis taxpayer;
  • Understand the impact the remittance basis has on personal allowances for income and capital gains;
  • Understand the mechanics of nominating assets on which the user charge can apply and how to best avoid accidental remissions of income or gains;
  • Be aware of the issues that arise when remitting assets in specie rather than in cash;
  • Be aware of the position with regards to loss relief on assets remitted to the UK;
  • Be aware of the difficulty posed by this regime for those offering professional services to remittance basis users paid using foreign income;
  • Be aware of the complex anti-avoidance rules concerning trusts, ‘relevant persons’ and companies used to remit income or capital to the UK.
Specialist Difficulty: 5 of 5
Practical Guide
Sources and References:
  • Chapter A1 Part 14 Income Tac Act 2007.

This podcast is about the taxation of those who are not domiciled or ordinarily resident in the UK who are eligible to opt for taxation on the remittance basis rather than an on the arising basis.

Podcast added: 16/6/11

Podcast last reviewed: 2012-05-28

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