UK Taxation of Foreign Income
- A UK resident individual is taxable on their worldwide income, including foreign income on an arising basis. Generally, however, a credit will be available for any foreign tax paid in relation to that income.
- Where an individual is "Resident but not ordinarily Resident" they may claim the ‘Remittance Basis, in which case they are only taxed in the UK on foreign income remitted to the UK. Where that income is taxable in the UK a credit will be given for any foreign tax suffered.