Mixed Fund Rules

Strict statutory rules apply in deciding what funds you bring to the UK every time you make a remittance from a mixed fund (broadly an account containing more than one type of income/gains (as categorised below) or income/gains of more than one UK tax year).

Any remittances that you make to the UK from a particular account will use up any funds in that account in the following order:

a. UK employment income taxed as it arises

b. Employment income attributable to OWR (not subject to a foreign tax)

c. Foreign specific employment income e.g. certain types of share income (notsubject to a foreign tax)

d. Foreign investment income (not subject to a foreign tax)

e. Foreign capital gains (not subject to a foreign tax)

f. Employment income on which foreign tax has been paid

g. Foreign investment income on which foreign tax has been paid

h. Foreign capital gains on which foreign tax has been paid and

i. Any other income/gains/capita