They think it’s all over, it is now! Sophie Dworetzsky and Dominic Lawrance (Charles Russell Speechlys) comment on the end of the remittance basis, the ‘absolute mess’ that is the double remittance situation and a potentially worrying change in HMRC’s view on the taxation of capital payments in ancillary relief on divorce.
Abolition of the remittance basis
They think it’s all over it is now! While very widely known about one cannot overstate that 6 April 2025 marked a seismic shift in the UK personal tax landscape. The remittance basis a part of UK tax law since income tax was introduced by Pitt the Younger in 1799 (albeit heavily modified and restricted on various occasions since) was abolished. There is much current talk in geopolitics that ‘the world as we know it is gone’. While geopolitics are beyond the scope of this update we can...
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They think it’s all over, it is now! Sophie Dworetzsky and Dominic Lawrance (Charles Russell Speechlys) comment on the end of the remittance basis, the ‘absolute mess’ that is the double remittance situation and a potentially worrying change in HMRC’s view on the taxation of capital payments in ancillary relief on divorce.
Abolition of the remittance basis
They think it’s all over it is now! While very widely known about one cannot overstate that 6 April 2025 marked a seismic shift in the UK personal tax landscape. The remittance basis a part of UK tax law since income tax was introduced by Pitt the Younger in 1799 (albeit heavily modified and restricted on various occasions since) was abolished. There is much current talk in geopolitics that ‘the world as we know it is gone’. While geopolitics are beyond the scope of this update we can...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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