Income Tax Act 2007

[F1 809D Application of remittance basis without claim where unremitted foreign income and gains under £2,000 U.K.

(1) This section applies to an individual for a tax year if—

(a) the individual is UK resident in that year,

(b) the individual is not domiciled in the United Kingdom in that year or is not ordinarily UK resident in that year, and

(c) the amount of the individual's unremitted foreign income and gains for that year is less than £2,000.

(2) The amount of an individual's “unremitted” foreign income and gains for a tax year is—

(a) the total amount of what would (if this section applied) be the individual's foreign income and gains for that year, minus

(b) the total amount of those income and gains that are remitted to the United Kingdom in that year.]

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)