HMRC’s Wealthy team is sending letters to taxpayers who they believe should have paid the remittance basis charge for 2022/23. Taxpayers who have been UK residents for 7 out of 9 years, or 12 out of 14 years, must amend their returns and pay a £30,000 or £60,000 charge, or switch to the arising basis, within 60 days. Failure to correct errors may result in penalties, additional tax, and interest.
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