Income Tax Act 2007

[F1 Remittance of income and gains: supplementary U.K.

Textual Amendments

F1 Pt. 14 Ch. A1 inserted (21.7.2008 with effect in accordance with Sch. 7 para. 81 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 1 (with Sch. 7 paras. 85-89)

809T Foreign chargeable gains accruing on disposal made [F2 otherwise] than for full consideration U.K.

(1) This section applies if—

(a) foreign chargeable gains accrue to an individual on the disposal of an asset, and

(b) the individual does not receive consideration for the disposal of an amount [F3 at least] equal to the market value of the asset.

(2) For the purposes of this Chapter treat the asset as deriving from the chargeable gains.

Textual Amendments

F2 Word in s. 809T heading substituted (retrospective to 22.4.2009) by Finance Act 2009 (c. 10), Sch. 27 paras. 9(3), 15(2)

F3 Words in s. 809T(1)(b) inserted (retrospective to 22.4.2009) by Finance Act 2009 (c. 10), Sch. 27 paras. 9(2), 15(2)

809U Deemed income or gains not to be regarded as remitted before time when they are treated as arising or accruing U.K.

Where—

(a) income or foreign chargeable gains are treated as arising or accruing, and

(b) by virtue of anything done in relation to anything regarded as deriving from the income or chargeable gains, the income or chargeable gains would otherwise be regarded as remitted to the United Kingdom before the time when they are treated as arising or accruing,

treat the income or chargeable gains as remitted to the United Kingdom at that time.]