Part 12 U.K. Accrued income profits

Chapter 2 U.K. Accrued income profits and losses

Relief where transfer proceeds unremittable U.K.

670 Withdrawal of relief U.K.

(1) This section applies if—

(a) a claim under section 668(2) or 669(2) has been made in relation to profits, and

(b) the proceeds of the transfers cease to be unremittable.

(2) The claimant is treated as making accrued income profits of an amount equal to the reduction under that section.

(3) If the claimant has died, the claimant's personal representatives are so treated.