Income Tax Act 2007 section 809X

Exempt property

Section 809X defines what counts as "exempt property" for remittance basis purposes, so that certain foreign income or gains brought to the UK are treated as not remitted.

• Exempt property brought to, received, or used in the UK is treated as not remitted to the UK, meaning no UK tax charge arises on it under the remittance basis rules.
• Property qualifies as exempt if it meets the public access rule (applicable to works of art and collectors' pieces), or if clothing, footwear, jewellery, or watches meet the personal use rule.
• Property is also exempt if it meets the repair rule, the temporary importation rule, or if the notional remitted amount is less than £1,000.
• Each exemption has its own detailed conditions set out in separate provisions, and the relevant rule must be fully satisfied for the property to be treated as exempt.