Simplified tax treatment for certain ‘not ordinarily resident’ employees
The government is seeking views on draft legislation for Finance Bill 2013, to replace HMRC statement of practice SP1/09 (Employees resident but not ordinarily resident in the UK: General earnings chargeable under sections 15 and 26 Income Tax (Earnings and Pensions) Act 2003 and application of the mixed fund rule under sections 809Q onwards of the Income Tax Act 2007).
The statement of practice provides a simplified tax treatment of income for certain employees who are taxed on the remittance basis, where strict application of the mixed fund rules would be administratively complicated.
The government consulted in June 2011 on a proposal to put the statement on a statutory basis in Finance Bill 2012, but announced in December that it would defer the legislation until Finance Bill 2013 to give more time to take account of views received in consultation.
Simplified tax treatment for certain ‘not ordinarily resident’ employees
The government is seeking views on draft legislation for Finance Bill 2013, to replace HMRC statement of practice SP1/09 (Employees resident but not ordinarily resident in the UK: General earnings chargeable under sections 15 and 26 Income Tax (Earnings and Pensions) Act 2003 and application of the mixed fund rule under sections 809Q onwards of the Income Tax Act 2007).
The statement of practice provides a simplified tax treatment of income for certain employees who are taxed on the remittance basis, where strict application of the mixed fund rules would be administratively complicated.
The government consulted in June 2011 on a proposal to put the statement on a statutory basis in Finance Bill 2012, but announced in December that it would defer the legislation until Finance Bill 2013 to give more time to take account of views received in consultation.
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