401(1)Amend section 38 (maintenance payments under existing obligations: 1989-90 onwards) as follows.U.K.
(2)In subsection (1) for paragraph (c) substitute—
“(c)is (apart from this section) within a charge to tax under Chapter 7 of Part 5 of the Income Tax (Trading and Other Income) Act 2005 (annual payments not otherwise charged) and is not, by virtue of Chapter 5 of that Part (settlements), treated for any purpose as the income of the person making it.”
(3)In subsection (9) for the words from “65(1)(b)” to “1988” substitute “ 839 of the Income Tax (Trading and Other Income) Act 2005 (annual payments payable out of relevant foreign income) ”.