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.