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.