Modifications etc. (not altering text)
C1Sch. 5AA modified (24.2.2003) by Proceeds of Crime Act 2002 (c. 29), Sch. 10 para. 8 (with Sch. 10 para. 10); S.I. 2003/120, art. 2, Sch. (with arts. 3, 4 (as amended by S.I. 2003/333, art. 14))
8For the purpose of determining whether an individual ordinarily resident in the United Kingdom has a liability for income tax in respect of any profit or gain which—
(a)is realised by a person resident or domiciled outside the United Kingdom, and
(b)arises from a transaction to which this Schedule applies,
sections 739 and 740 (transfer of assets abroad) shall have effect as if that profit or gain, when realised, constituted income becoming payable to the person resident or domiciled outside the United Kingdom.