Chapter 38 - Taxation of Foreign Income Flashcards
1
Q
True or false
Personal Allowance is also offered to any individual who at any point in the tax year is a UK or EEA national
A
True
2
Q
UK resident individuals pay income tax on their foreign income. On what basis is this taxed?
A
On an arising basis
3
Q
If a UK resident is not domiciled in the UK, what can they do?
A
Make a claim for foreign income to be taxed on the remittance basis
4
Q
How is a non-UK resident taxed?
A
They will not be taxed on foreign income
