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STOP PRESS: At Spring Budget 2024, the Chancellor announced that the remittance basis would be abolished from 6 April 2025, although this only applies to foreign income and gains arising on or after that date. The remittance basis rules still apply to unremitted income and gains arising before that date but remitted later and such remittances can continue to be sheltered using business investment relief. For more details, see the Abolition of the remittance basis from 2025/26 guidance note.

Individuals who are not domiciled or deemed domiciled in the UK can bring foreign income and capital gains into the UK for the purposes of investment in UK companies without triggering a remittance. This is known as ‘business investment relief’. For more on the remittance basis, see the Remittance basis ― overview guidance note.

To be a qualifying investment, the company must be a private limited company whose shares are not traded on a recognised stock exchange.

The investment