𝐓𝐞𝐦𝐩𝐨𝐫𝐚𝐫𝐲 𝐑𝐞𝐩𝐚𝐭𝐫𝐢𝐚𝐭𝐢𝐨𝐧 𝐅𝐚𝐜𝐢𝐥𝐢𝐭𝐲 (𝐓𝐑𝐅)

Time-limited opportunity for those with comple

x offshore assets to benefit from a favourable tax treatment — but action must be taken early.

The temporary repatriation facility (TRF) is designed to unlock those offshore sources of wealth to boost the UK economy by providing a special reduced rate of tax for qualifying taxpayers for a limited period. It is proposed to allow non-doms to “designate” untaxed foreign funds and pay tax on them at a flat rate – 12% on the value designated between 6 April 2025 and 5 April 2027, and 15% on designations in 2027/28.

👉 From 6 April 2025, the remittance basis is no longer available. But if you’ve built up foreign income or gains before this date, there’s a window of opportunity:

✅ The Temporary Repatriation Facility (TRF)
The TRF allows former remittance basis users to bring foreign income and gains into the UK at a low tax rate. Here’s what you need to know:

– Applies to pre-6 April 2025 foreign income and gains

– Available for 3 years only: 2025–26, 2026–27, and 2027–28

– Taxpayers designate qualifying overseas capital (even if the funds aren’t remitted during the TRF period) …. 𝐼 ℎ𝑎𝑣𝑒 𝑡ℎ𝑖𝑠 𝑚𝑜𝑛𝑒𝑦 𝑜𝑣𝑒𝑟𝑠𝑒𝑎𝑠 𝑡ℎ𝑎𝑡 𝐼 𝑒𝑎𝑟𝑛𝑒𝑑 𝑏𝑒𝑓𝑜𝑟𝑒 𝐴𝑝𝑟𝑖𝑙 2025. 𝐼 𝑤𝑎𝑛𝑡 𝑖𝑡 𝑡𝑜 𝑏𝑒 𝑡𝑟𝑒𝑎𝑡𝑒𝑑 𝑢𝑛𝑑𝑒𝑟 𝑡ℎ𝑒 𝑇𝑅𝐹 𝑟𝑢𝑙𝑒𝑠, 𝑒𝑣𝑒𝑛 𝑖𝑓 𝐼 𝑑𝑜𝑛’𝑡 𝑡𝑟𝑎𝑛𝑠𝑓𝑒𝑟 𝑖𝑡 𝑡𝑜 𝑡ℎ𝑒 𝑈𝐾 𝑗𝑢𝑠𝑡 𝑦𝑒𝑡.

– Mixed funds can be included, and priority remittance rules apply

– Foreign tax paid isn’t creditable, but the amount net-of-foreign-tax amounts can be designated

– Overseas assets and past Business Investment Relief (BIR) investments may also qualify

📩 If this affects you or your clients, get in touch. We can help review eligibility, prepare designations, and ensure you’re making the most of the TRF window.