SCHEDULES

SCHEDULE 7Remittance basis

Part 1Main provisions

Transitional provision

87

Section 809N of ITA 2007 (section 809L: gift recipients, qualifying property and enjoyment) has effect in relation to an individual's income and chargeable gains for the tax year 2007-08 or any earlier tax year as if—

(a)

the reference in subsection (2) to a relevant person were to the individual,

(b)

subsections (3) and (4) were omitted, and

(c)

the references in subsection (9) to a relevant person, all relevant persons, or relevant persons were to the individual.