Remittance Basis

We have recently received confirmation from HMRC that they intend to contact taxpayers whom used the Remittance Basis of taxation in the tax year ended 5 April 2012.

It is not yet known how many taxpayers will be contacted, or what the criteria for those taxpayers are, however from the factsheet supplied it appears HMRC are questioning whether taxpayers full understand what a remittance is.

The HMRC factsheet sets out the most common ways an indiviudual may remit money to the UK.

If you have any queries or concerns please contact Claire Spinks on 01403 271919

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