Paragraph 2

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.

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

“(b)

meets the 12-year residence test or the 7-year residence test for that year.”

After that subsection insert—

“(1A)

An individual meets the 12-year residence test for a tax year if the individual has been UK resident in at least 12 of the 14 tax years immediately preceding that year.

(1B)

An individual meets the 7-year residence test for a tax year if the individual—

(a)

does not meet the 12-year residence test for that year, but

(b)

has been UK resident in at least 7 of the 9 tax years immediately preceding that year.”

In subsection (4), for “£30,000” substitute

“—

(a)

for an individual who meets the 12-year residence test for that year, £50,000;

(b)

for an individual who meets the 7-year residence test for that year, £30,000.”