SCHEDULES
SCHEDULE 7Remittance basis
Part 2Non-resident companies and trusts etc
Offshore income gains: commencement etc
100
(1)
This paragraph applies if—
(a)
by virtue of section 87 or 89(2) of, or Schedule 4C to, TCGA 1992 as applied by F1regulation 20 of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), income is treated under F2such regulations (regulation 17 of those Regulations as arising to an individual in the tax year 2008-09 or any subsequent tax year, and
(b)
the individual is not domiciled in the United Kingdom in that year.
(2)
The individual is not charged to income tax on the income if and to the extent that it is treated as arising by reason of—
(a)
a capital payment received (or treated as received) by the individual before 6 April 2008, or
(b)
the matching of any capital payment with the OIG amount for the tax year 2007-08 or any earlier tax year.