SCHEDULES

SCHEDULE 12Foreign income and gains

PART 1Increased remittance basis charge

Increased charge

2

1

Section 809C (claim for remittance basis by long-term UK resident: nomination of foreign income and gains to which section 809H(2) is to apply) is amended as follows.

2

In subsection (1), for paragraph (b) substitute—

b

meets the 12-year residence test or the 7-year residence test for that year.

3

After that subsection insert—

1A

An individual meets the 12-year residence test for a tax year if the individual has been UK resident in at least 12 of the 14 tax years immediately preceding that year.

1B

An individual meets the 7-year residence test for a tax year if the individual—

a

does not meet the 12-year residence test for that year, but

b

has been UK resident in at least 7 of the 9 tax years immediately preceding that year.

4

In subsection (4), for “£30,000” substitute

—

a

for an individual who meets the 12-year residence test for that year, £50,000;

b

for an individual who meets the 7-year residence test for that year, £30,000.