- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
159After section 670 of that Act insert—
(1)This section applies if—
(a)accrued income profits are made by an individual as a result of a transfer of foreign securities, and
(b)section 809B, 809D or 809E (remittance basis) applies to the individual for the tax year in which the profits are made.
(2)Treat the accrued income profits as relevant foreign income of the individual.
(3)For the purposes of Chapter A1 of Part 14 (remittance basis)—
(a)if the individual is the transferor—
(i)treat any consideration for the transfer as deriving from the accrued income profits, and
(ii)if on the transfer the individual does not receive consideration of an amount equal to (or exceeding) the market value of the securities, treat the securities as deriving from the accrued income profits, and
(b)if the individual is the transferee, treat the securities as deriving from the accrued income profits.
(4)For the purposes of this section securities are “foreign” if income from them would be relevant foreign income.”
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Schedule you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Schedule you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: