Part 1 Increased Remittance Basis Charge
Finance Act 2012 (2012 c 14) | Legislation

SCHEDULE 12 Foreign Income and Gains

Section 47

Part 1 Increased Remittance Basis Charge

Increased charge

1

Chapter A1 of Part 14 of ITA 2007 (remittance basis) is amended as follows.

2

(1)     Section 809C (claim for remittance basis by long-term UK resident: nomination of foreign income and gains to which section 809H(2) is to apply) is amended as follows.

(2)     In subsection (1), for paragraph (b) substitute—

“(b)     meets the 12-year residence test or the 7-year residence test for that year.â€

(3)     After that subsection insert—

“(1A)     An individual meets the 12-year residence test for a tax year if the individual has been UK

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Codicils

CodicilsCodicils may be used for making any alteration in a Will such as to alter the executors or make changes in legacies, whether by addition or deletion but that is by no means their only use. As a general rule, substantial changes are best achieved by means of a new Will and codicils are more

LEXISNEXIS

The tort of deceit

The tort of deceitDeceit—what is it?A deceit occurs when a misrepresentation is made with the express intention of defrauding a party, subsequently causing loss to that party.The elements of a claim in deceit are:•a clear false representation of fact or law•fraud by the maker, in the sense that they

LEXISNEXIS

Sentencing fraud offences committed by individuals

Sentencing fraud offences committed by individualsThe Sentencing Council (SC) has produced sentencing guidelines for fraud offences under the Fraud Act 2006 (fraud by false representation, fraud by failing to disclose information and fraud by abuse of position), false accounting under section 17 of

LEXISNEXIS

Notice to complete

While this Practice Note primarily covers commercial property matters, it also touches on residential considerations.Time is generally not of the essence for completion of a contract for the sale of land. If the seller or the buyer delays completion, the defaulting party will be liable in damages