Introduced among the 6 April 2025 changes regarding the abolition of the remittance basis and domicile regime, there are transitional provisions that provide an automatic rebasing of qualifying foreign assets for eligible individuals. Both the individual and the asset must meet specific criteria for the rebasing to apply.
This automatic rebasing affects foreign chargeable assets held on 5 April 2017, which are disposed of on or after 6 April 2025, resetting their value to the market value as of 6 April 2017 for capital gains tax purposes. Consequently, only gains accrued after this date are taxable.
Rebasing criteria
To qualify, an individual must have
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Web page updated on 17 Mar 2025 13:21