Rebasing election

• If you have paid the remittance basis charge in any of the previous years you can rebase your foreign assets as of 5 April 2017. If you have not paid the RBC, there may still be an opportunity to rectify this.

• The assets must have been located outside the UK throughout the period from 16 March 2016 or, if later, the date you acquired the asset, to 5 April 2017

• If necessary we can amend your 2016/17 Return to claim the remittance basis and pay the charge in order to enable the rebasing opportunity

• Please note this election is not applicable if you become deemed domiciled after 6 April 2017

• In addition, you will be able to make tax-free remittances of any gains realized on disposals on non-UK assets after 5 April 2017 to the extent such gains are attributable to the pre-April 2017 period depending on your residence position prior to April 2017.