Non-Doms

Non-Doms

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I have a non-dom who has been resident in the UK for about twenty years and up to 2007/08 earned some interest on an offshore account which was never remitted to UK, so not subject to UK tax.

From 2008/09 the interest on this offshore account is less than £2,000 so claiming the remittance basis is not required. However, the client in 2007/08 made a loss on a Spanish property and the question is, can this loss be carried forward to 2009/10 and offset versus a UK gain. I seen articles on this and different answers as well, what do contributors to this site think?

What is the situation with foreign lossess post 5th April 2008, for such as persons?

Any replies greatly appreciated.

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