RDRM33550 - Remittance Basis: Identifying Remittances: Specific Topics: Accrued Income Scheme
Where a security is sold with accrued income and the proceeds paid into an account, the part of the proceeds representing accrued income will be taxable as income and subject to income tax under the Accrued Income Scheme (AIS). Refer to the Savings and Investment Manual SAIM4000+ for information about the AIS.
Where an individual is chargeable on the remittance basis, accrued income profits arising from transfers of a 바카라 사이트榝oreign security바카라 사이트� are treated as relevant foreign income - refer to RDRM31140. Securities are 바카라 사이트渇oreign바카라 사이트� where income (in practice, interest) from them would be relevant foreign income. This will include, for example, a security issued in registered form by a non-UK company, which maintains the register of note-holders outside the UK.
For consistency of treatment between the AIS and the remittance basis regime, HMRC will follow the tax treatment delivered by the AIS, and accept that an 바카라 사이트檌ncome amount바카라 사이트� can be transferred to a separate 바카라 사이트榠ncome account바카라 사이트� immediately upon transfer, that is, the proceeds are 바카라 사이트榮plit바카라 사이트� into two separate accounts immediately upon receipt into the individual바카라 사이트檚 account. This 바카라 사이트榠ncome바카라 사이트� could then be identified and taxed as such, without creating a mixed fund refer to RDRM35200.
To the extent that the remainder of the proceeds consist of capital or UK or non-taxable income (as opposed to, say, untaxed foreign income or gains) originally used in the purchase of the security (refer to RDRM35030), the remainder of the proceeds could therefore be separately identified and remitted as such.
Refer to SAIM4380+ for more information on the treatment of remittance basis users with accrued income profits.