# Finance Act 2015, Section 24: Increased remittance basis charge


(1) Chapter A1 of Part 14 of ITA 2007 (remittance basis) is amended as follows.
(2) In 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)—
(a) in subsection (1)(b), after “meets” insert “ the 17-year residence test, ”;
(b) after subsection (1) insert—
“(1ZA) An individual meets the 17-year residence test for a tax year if the individual has been UK resident in at least 17 of the 20 tax years immediately preceding that year.”;
(c) in subsection (1A), after “the individual” insert—
“(a) does not meet the 17-year residence test for that year, but”;
(b)
(d) in subsection (1B)(a), after “meet” insert “ the 17-year residence test or ”;
(e) in subsection (4)—
(i) before paragraph (a) insert—
“(za) for an individual who meets the 17-year residence test for that year, £90,000;”;
(ii) in paragraph (a), for “£50,000” substitute “ £60,000 ”.
(3) In section 809H (claim for remittance basis by long-term UK resident: charge)—
(a) in subsection (1)(c), after “meets” insert “ the 17-year residence test, ”;
(b) in subsection (1A)—
(i) for “809C(1A)” substitute “ 809C(1ZA), (1A) ”;
(ii) after “meets” insert “ the 17-year residence test, ”;
(c) in subsection (5B)—
(i) before paragraph (a) insert—
“(za) if the individual meets the 17-year residence test for the relevant tax year, £90,000;”;
(ii) in paragraph (a), for “£50,000” substitute “ £60,000 ”.
(4) The amendments made by this section have effect for the tax year 2015-16 and subsequent tax years.

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Source: https://www.legislation.gov.uk/ukpga/2015/11/section/24 (the official version)
Page: https://openlegislation.uk/finance-act-2015/section-24
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.