Remittances: Taxation
(asked on 3rd November 2025) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has made an estimate of annual tax loss from untaxed remittances sent abroad by non-UK nationals.
This question was answered on 10th November 2025
The UK imposes taxes based on individual’s residence status. Individuals who are resident in the UK are typically taxable on their income and gains that arise worldwide. Remitting funds outside of the UK is not generally considered to be a chargeable event for individuals. It should also be noted that funds being remitted will often have already been subject to UK tax, such as income tax, if funded from earnings.
The UK imposes taxes based on individual’s residence status. Individuals who are resident in the UK are typically taxable on their income and gains that arise worldwide. Remitting funds outside of the UK is not generally considered to be a chargeable event for individuals. It should also be noted that funds being remitted will often have already been subject to UK tax, such as income tax, if funded from earnings.