HMRC legislation now treats non-cash items enjoyed in the UK as remittances that need to be included if you are opting for the remittance basis to apply to your tax situation.

This now means that expensive jewellery and cars etc. being used or enjoyed in the UK are caught and need to be valued and treated as a remittance to the UK.

One popular technique has been to fund a UK property mortgage using an offshore interest only mortgage. This is another specifically caught by the new legislation.

Click to view the complete Finance Act 2008 with the relevant remittances section located in Schedule 7 s809L.

Generally, non-UK domiciled and non-ordinarily resident individuals may claim to use the remittance basis for taxing non-UK income.

• France
• Malta
• Spain
• United Kingdom

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