SCHEDULES
SCHEDULE 12Foreign income and gains
PART 1Increased remittance basis charge
Increased charge
3
1
Section 809H (claim for remittance basis by long-term UK resident: charge) is amended as follows.
2
In subsection (1), for paragraph (c) substitute—
c
the individual meets the 12-year residence test or the 7-year residence test for the relevant tax year.
3
After that subsection insert—
1A
See section 809C(1A) and (1B) for when an individual meets the 12-year residence test or the 7-year residence test for a tax year.
4
In subsection (4), for “£30,000”, in each place it occurs, substitute “
the applicable amount
”
.
5
After subsection (5A) insert—
5B
The applicable amount” is—
a
if the individual meets the 12-year residence test for the relevant tax year, £50,000;
b
if the individual meets the 7-year residence test for the relevant tax year, £30,000.