SCHEDULES
SCHEDULE 11Reliefs and reductions for foreign tax
Effect of foreign tax becoming payable
2
1
Section 85 of TIOPA 2010 (schemes about effect of paying foreign tax) is amended as follows.
2
In subsection (2)—
a
for paragraph (a) substitute—
a
an amount of foreign tax (“the FT amount”) is paid or payable by C, and
b
in paragraph (b), for “of the payment of the FT amount on the foreign-tax total” substitute “
on the foreign-tax total of the FT amount being so paid or payable
”
.
3
In subsection (3), in paragraph (b) of the definition of “the foreign-tax total”, for “the payment by C of the FT amount” substitute “
the FT amount being paid or payable by C
”
.