Record keeping for the £30,000 tax charge

More detailed record keeping to keep a track of income that has been taxed (via the £30,000 tax charge) and other unremitted income will need to be kept by non UK domiciliaries after April 2008. However the legislation states that the record keeping can be avoided if individuals ensure that "nominated" income or gains upon which the £30,000 tax is paid are not remitted to the UK, or only remitted after the remittance of all other unremitted income and gains since the first year of residence from April 2008. The explanatory notes state that '…If an individual is confident they will never need to remit that "nominated" income or gains, paying the RBC will not involve any extra complexity or record keeping…' The reason for this is that there are new and complex rules for determining which income remitted is nominated and which isn't. These apply where you remit income or gains and haven't previously remitted all other untaxed income and capital gains. If you only remit your nominated income and gains when you have remitted all other income and gains these provisions will not apply.