Income Tax (Trading and Other Income) Act 2005 section 832

Relevant foreign income charged on remittance basis

Section 832 deals with how relevant foreign income that was subject to the remittance basis in tax years before 2025-26 is charged to income tax when it is later brought into the United Kingdom.

• This section applies to an individual's relevant foreign income for any tax year before 2025-26 where the remittance basis applied to that individual under ITA 2007
• Income tax is charged on the full amount of such income when it is remitted to the United Kingdom in any tax year during which the individual is UK resident
• If the tax year is a split year for the individual, only amounts remitted during the UK part of that year are charged
• The charge applies even if the original source of the income no longer exists at the time the income is remitted