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UK resident

Note that, from 6 April 2025, the remittance basis of taxation is abolished and replaced by the regime linked to the number of years of UK residency called the 'foreign income and gains' (FIG) regime. SeeUK1.2.1 and UK1.2.2.

If the UK resident individual (UK1.2.1) is UK domiciled or UK deemed domiciled (UK1.2.5) then they are taxable in the UK on their worldwide income and gains. This is known as the arising basis.

Income will be subject to income tax (UK1.3.1) and gains will be subject to capital gains tax (UK1.3.2).

As the arising basis means that income and gains arising overseas are taxable in the UK, if foreign tax has been paid on the same income or gains the individual is usually entitled to relief in the UK for the foreign tax paid. (UK1.8).

Note that, from 6 April 2025, the remittance basis of taxation is expected to be abolished, to be replaced by a new regime linked to the number of years