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Money brought into the UK to pay the RBC is not treated as a remittance if the money comes from untaxed foreign income or gains and is paid direct to HMRC¹.

This exemption overrides the ITA 2007, s 809L conditions such that it allows for a total equivalent to the individual's RBC amount for the tax year to be transferred to HMRC from funds representing or derived from relevant foreign income and/or gains, without there being a taxable remittance.

The exemption only applies if the money is paid in respect of the tax due for a year in which the remittance basis charge has been claimed and is due.

In addition, the money to pay the RBC must be sent direct from an overseas bank account to HMRC either by way of a cheque or electronic transfer. It cannot be paid via a UK bank account². The individual will need to keep sufficient records, such as a copy of the cheque drawn on an offshore bank account,