Guidance: Foreign Income and Gains (FIG) Regime
· WOWERI
The Foreign Income and Gains (FIG) regime applies to individuals with overseas income. Check our guide to understand who can claim under the FIG regime, what income and gains qualify, and how to claim in Self Assessment.
Introduction to the Foreign Income and Gains (FIG) Regime
The Foreign Income and Gains (FIG) regime is an important concept for individuals with overseas income. This regime applies to various types of income, including employment income, pensions, rental income, and capital gains.
Who can claim under the FIG regime?
The FIG regime is available to individuals who are UK tax residents and have overseas income. To claim under the FIG regime, you must meet certain criteria outlined in the Self Assessment helpsheet HS266.
What income and gains qualify?
The FIG regime applies to a wide range of income and gains, including:
- Employment income and other earnings
- Pensions and annuities
- Rental income and other property income
- Capital gains from the sale of assets
How to claim in Self Assessment
To claim under the FIG regime, you must submit a Self Assessment tax return, using the Self Assessment form. In your return, you must provide detailed information about your overseas income and gains, as well as any taxes paid overseas.
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Source: gov.uk