09/04/2026
Over the past few weeks, I’ve had so many conversations with clients who are unsure about the new Foreign Income & Gains (FIG) regime coming into effect from 6 April 2025.
The rules around foreign income are changing, and for many people investing overseas, it’s created a lot of uncertainty.
The FIG regime offers up to four years of tax relief on foreign income and gains for qualifying new UK residents. No remittance rules. No domicile tests. A fully residence‑based system.
For many people, this is a welcome simplification.
For others, especially those with cross‑border lives, investments, or businesses, it raises new questions about planning, compliance, and what “good structure” looks like going forward.
If you’re navigating your Self Assessment this year and want clarity — especially with FIG now in force — Ting is here to support you with grounded, practical guidance.
You can reach us at [email protected].
🌍 The Foreign Income & Gains (FIG) Regime (from 6 April 2025)
The UK formally abolished the remittance basis on 6 April 2025 and replaced it with the 4‑year Foreign Income and Gains (FIG) regime.
🧭 What the FIG Regime Does
If you qualify, the FIG regime allows you to:
-Pay no UK tax on eligible foreign income and gains for up to 4 tax years
-Bring those foreign funds into the UK freely (no remittance rules anymore)
-Choose which claims to make each year (foreign income, foreign gains, foreign employment election)
However, claiming FIG removes your UK personal allowance and CGT annual exempt amount for that year.
🧑💼 Who Qualifies?
You must be a “qualifying new resident”, meaning:
-You are UK‑resident under the Statutory Residence Test, and
- You are still within your first 4 years as a UK tax resident following at least a 10-year period as a non-UK tax resident
The regime applies from 2025/26 onward.
If your UK residence began between 2022/23 and 2025/26, you may have some FIG‑eligible years remaining.
🧾 What Income & Gains Qualify?
Eligible foreign income and gains include:
-Foreign employment income (with caps)
-Profits from trades carried on wholly outside the UK
-Foreign rental income
-Foreign interest and dividends
-Most foreign pension income
-Capital gains on foreign assets (with exceptions)
🚫 What Doesn’t Qualify?
Examples of non‑relievable income:
-Gains from foreign insurance bonds
-Performance income
-Foreign profits from trades partly carried out in the UK
-Any UK‑source income or gains
Need help with your Self Assessment? Ting can support you. Email us at [email protected].
