Income Tax Act 2007 section 809G

Claim for remittance basis: effect on allowances etc.

Section 809G sets out the personal allowances and reliefs that an individual forfeits for a tax year in which they claim the remittance basis of taxation.

• Claiming the remittance basis for a tax year removes entitlement to the personal allowance and the blind person's allowance for that year
• Tax reductions for married couples and civil partners, including the transferable tax allowance (marriage allowance), are also lost
• Relief for certain life insurance payments is unavailable for the year of the claim
• The annual exempt amount for capital gains tax is also forfeited for that year