Remittance basis

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If someone is taxed under remittance basis and the person invested money into a uk company before becoming uk resident and before remittance basis was  edtablished, if the person now sells the shares in the compay at a loss and receives money will the person be taxed on this money. Would it make a difference if the money invested came from a trust

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By Accountant A
18th Nov 2018 17:03

What does your accountant say?

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By Tax Dragon
18th Nov 2018 22:29

I can think of circumstances that would fit yours and the answer would be yes. I can think of others that would fit and the answer would be no. That tells me you haven't taken the advice you need to. You really need to.

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By accountantccole
19th Nov 2018 12:32

I had a very similar scenario with a client, it is complicated, you need to track the funds, if there is a loan from the trust, how it was repaid etc. Not enough information here to be sure

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