Finance Act 2008, Paragraph 60 is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
60U.K.For section 12 substitute—
(1)This section applies to foreign chargeable gains accruing to an individual in a tax year (“the foreign chargeable gains”) if—
(a)section 809B, 809D or 809E of ITA 2007 (remittance basis) applies to the individual for that year, and
(b)the individual is not domiciled in the United Kingdom in that year.
(2)Chargeable gains are treated as accruing to the individual in any tax year in which any of the foreign chargeable gains are remitted to the United Kingdom.
(3)The amount of chargeable gains treated as accruing is equal to the full amount of the foreign chargeable gains so remitted in that year.
(4)In this section “foreign chargeable gains” means chargeable gains accruing from the disposal of an asset which is situated outside the United Kingdom.
(5)See Chapter A1 of Part 14 of ITA 2007 for the meaning of “remitted to the United Kingdom” etc.”
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