Income Tax Act 2007 section 809Z4

Temporary importation rule

Section 809Z4 sets out the temporary importation rule, which allows remittance basis users to bring overseas income-derived property into the UK for limited periods without it being treated as a taxable remittance.

• Property meets the temporary importation rule if it spends 275 or fewer countable days in the UK in total — this is a cumulative lifetime limit, not an annual allowance
• Certain days do not count, including days when the property meets the public access rule, the personal use rule, or the repair rule, or when the notional remitted amount is below £1,000
• Days when property is unavailable because it has been lost, stolen, or destroyed (and not recovered or compensated) are also excluded from the count
• If lost or stolen property is recovered after 231 or more countable days have already elapsed, the 275-day limit is extended to guarantee at least 45 further countable days from the date of recovery