Part III Individuals, partnerships, trusts and collective investment schemes F2etc

Annotations:
Amendments (Textual)
F2

Word in Pt. 3 heading inserted (with effect in accordance with Sch. 22 para. 12 of the amending Act) by Finance Act 2009 (c. 10), Sch. 22 para. 9; S.I. 2010/670, art. 2

Chapter II Settlements

Migration of settlements, non-resident settlements and dual resident settlements

C1C287BF1Section 87: remittance basis

1

This section applies if—

a

chargeable gains are treated under section 87F6, 87K or 87L as accruing to an individual in a tax year, F3and

b

section 809B, 809D or 809E F7of ITA 2007 (remittance basis) applies to the individual for that year, F4...

F5c

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F92

The chargeable gains are chargeable gains accruing on the disposal of an asset situated outside the United Kingdom.

3

For the purposes of Chapter A1 of Part 14 of ITA 2007 (remittance basis) treat relevant property or benefits as deriving from the chargeable gains.

4

For the purposes of subsection (3) property or a benefit is “relevant” if the capital paymentF8, or onward payment (see section 87I(1)(c)), by reason of which the chargeable gains are treated as accruing consists of—

a

the payment or transfer of the property or its becoming property to which section 60 applies, or

b

the conferring of the benefit.