Employment-related securities and the remittance basis

Produced by Tolley in association with

Employment Tax

Guidance

Abolition of non-UK domicile basis of taxation from 6 April 2025

The non-UK domicile basis of taxation is abolished from 6 April 2025. This will affect fundamentally claims for exemptions on non-remitted income. The separate Abolition of the remittance basis from 2025/26 guidance note sets out the new and transitional rules, applying from 2025/26 onwards.

The remainder of this guidance note is written primarily with the previous rules, applying to 2024/25, in mind. There is more than one reason why it may be necessary to refer back to these earlier rules, after 5 April 2025. One example might be where an event happens in 2025/26 or later which creates tax liability, but some or all of the income was actually earned in 2024/25 or earlier (see the example provided by HMRC in ERSM165236).

In addition, it is possible employees will have established a non-UK domicile by 5 April 2025, but have yet to remit income deemed to have been earned by that date, to the UK. In such cases the remittance basis

Continue reading the full document

To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+™

TAKE A FREE TRIAL NOW

Karen Speight

Freelance Lecturer

Qualified as both a solicitor and a Chartered Tax Advisor, Karen has over 25 years' experience in professional services, including 11 years as a partner at Ernst & Young. Whilst in practice, she specialised in all aspects of employee reward and development including design, implementation, compliance and administration, and now enjoys using that experience to help develop others.

Popular Articles

Corporation Tax

Double tax relief

Double tax reliefWhen income arises in a foreign country to a UK resident company and that income is taxable in that foreign country, the UK may give the company relief for the foreign tax by crediting the foreign tax against the UK tax charged on that income. This might include withholding tax on

14 Jul 2020 11:31 | Produced by Tolley Read more

Personal Tax

Self assessment ― amendments and corrections

Self assessment ― amendments and correctionsOnce a self assessment tax return has been filed, both HMRC and the taxpayer (or the agent) has the right to make changes to the return. There are different time limits depending on whether it is a correction by HMRC or an amendment made by the

14 Jul 2020 13:37 | Produced by Tolley Read more

Value Added Tax

Exemption ― overview ― items exempt from VAT in the UK

Exemption ― overview ― items exempt from VAT in the UKVAT exemption: list of supplies exempt from UK VATThe goods or services that are exempt from VAT are listed under various group headings within VATA 1994, Sch 9, Pt II.It is important to remember that not all supplies that come within a heading

14 Jul 2020 12:45 | Produced by Tolley Read more

��˾��ҹ��