Part 14U.K.Income tax liability: miscellaneous rules

[F1Chapter A1U.K.Remittance basis

Textual Amendments

F1Pt. 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)

Modifications etc. (not altering text)

C1No commentary item could be found for this reference key-b5c85c5c86db98b959e5afcecbd540f6Pt. 14 Ch. A1 modified by 2003 c. 1, s. 41A(8) (as inserted (with effect in accordance with Sch. 7 para. 80 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 22)

C2Pt. 14 Ch. A1 modified by 2003 c. 1, s. 41A(8) (as inserted (21.7.2008 with effect in accordance with Sch. 7 para. 80 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 22)

C3Pt. 14 Ch. A1 modified by 1988 c. 1, s. 762ZB(3) (as inserted (21.7.2008 with effect in accordance with Sch. 7 para. 98 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 94)

C4Pt. 14 Ch. A1 modified by 1992 c. 12, s. 87B(3) (as inserted (21.7.2008 with effect in accordance with Sch. 7 para. 115 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 108 (with Sch. 7 paras. 116-119))

C5Pt. 14 Ch. A1 modified (with effect in accordance with art. 1(2)(3) Sch. 1 of the amending S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), regs. 1(1), 19(3)

C6Pt. 14 Ch. A1 modified by 2003 c. 1, s. 41F(8) (as substituted (6.4.2015) by Finance Act 2014 (c. 26), Sch. 9 paras. 5, 47 (with Sch. 9 para. 48))

Interpretation of ChapterU.K.

809Z7[F2Meaning of “foreign income and gains” etc]U.K.

(1)This section applies for the purposes of this Chapter.

(2)An individual's “foreign income and gains” for a tax year are—

(a)the individual's relevant foreign earnings for that year,

(b)the individual's foreign specific employment income for that year,

(c)the individual's relevant foreign income for that year, and

(d)F3... the individual's foreign chargeable gains for that year.

(3)An individual's “relevant foreign earnings” for a tax year are—

(a)if the individual [F4does not meet the requirement of section 26A of ITEPA 2003 for] that year, the individual's chargeable overseas earnings for that year, and

(b)otherwise, the individual's general earnings within section 26(1) of ITEPA 2003 for that year (non-UK earnings).

[F5(4)An individual's “foreign specific employment income” for a tax year (“the relevant tax year”) consists of the income (if any) within subsections (4A) and (4B).

(4A)The income within this subsection is the individual's specific employment income for the relevant tax year so far as it consists of [F6securities income that is “foreign” for the purposes of section 41F] of ITEPA 2003.

(4B)The income within this subsection is any income, or any part of any income, of the individual—

(a)to which section 554Z9(2) or 554Z10(2) of ITEPA 2003 applies, and

(b)which consists of the value of a relevant step, or a part of the value of a relevant step, which is “for” the relevant tax year as determined under section 554Z4 of ITEPA 2003.]

(5)An individual's “foreign chargeable gains” for a tax year are the foreign chargeable gains (within the meaning of section 12(4) of TCGA 1992) accruing to the individual in that year.

(6)In subsection (3)(a) “chargeable overseas earnings” has the same meaning as in section 22 of ITEPA 2003 (see section 23 of that Act).

F7(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F2S. 809Z7 heading substituted (17.7.2012) (with effect in accordance with Sch. 12 para. 17 of the amending Act) by Finance Act 2012 (c. 14), Sch. 12 para. 15

F3Words in s. 809Z7(2)(d) omitted (with effect in accordance with Sch. 46 para. 25 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 24(a) (with Sch. 46 para. 26)

F4Words in s. 809Z7(3)(a) substituted (with effect in accordance with Sch. 46 para. 25 of the amending Act) by Finance Act 2013 (c. 29), Sch. 46 para. 24(b) (with Sch. 46 para. 26)

F5Ss. 809Z7(4)-(4B) substituted (19.7.2011) for s. 809Z7(4) (with effect in accordance with Sch . 2 para. 52-59 of the amending Act) by Finance Act 2011 (c. 11), Sch. 2 para. 43

F7S. 809Z7(7) omitted (17.7.2012) (with effect in accordance with Sch. 12 para. 17 of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 12 para. 14