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Income Tax Act 2007
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868Investments held outside the United Kingdom
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(1)An investment with a deposit-taker is not a relevant investment if—
(a)the deposit-taker is UK resident for income tax purposes or corporation tax purposes, and
(b)the investment is held at a branch of the deposit-taker situated outside the United Kingdom.
(2)An investment with a deposit-taker is not a relevant investment if—
(a)the deposit-taker is non-UK resident for income tax purposes or corporation tax purposes, and
(b)the investment is not held at a branch of the deposit-taker situated in the United Kingdom.
(3)An investment with a building society is not a relevant investment if it is held at a branch of the building society situated outside the United Kingdom.
(4)For the purposes of this section an investment is held at a branch of a deposit-taker or building society if the investment is recorded in its books as a liability of that branch.
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