TAXguide 02/19 sets out professional body guidance on the cleansing of mixed funds following the changes to the remittance rules for non-domiciled taxpayers included in the Finance (No 2) Act 2017. It takes the form of Q and As and is the third version of the guidance. The questions and answers were prepared by members of relevant ICAEW, STEP CIOT and LSEW committees to highlight and consider areas of uncertainty in the statutory provisions.
TAXguide 02/19 updates and replaces the second version, published as TAXguide 05/18, which is now withdrawn. The second version of the guidance included a number of questions (52 in all) about the operation of these provisions along with our suggested answers that we had sent to HMRC for its comments. HMRC has now commented on our suggested answers and the third version has been republished with HMRC’s comments incorporated, along with various minor corrections from version two. As such, this is the final version of these questions and answers.