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

;

(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.