SCHEDULES

SCHEDULE 11Reliefs and reductions for foreign tax

Claims etc made before scheme or arrangement made

6

1

In section 86 of TIOPA 2010 (schemes about claims or elections etc)—

a

in subsection (1), omit “under the scheme or arrangement”, and

b

after subsection (3) insert—

3A

Reference in subsection (1) to a step that is taken or not taken by a participant includes one that was taken or not taken by a participant before the scheme or arrangement was made.

3B

The reason for taking or not taking a step does not matter so long as it has the effect mentioned in subsection (1).

2

The amendments made by this paragraph have effect in relation to amounts of foreign tax payable—

a

as regards corporation tax, on or after 1 April 2010, and

b

as regards income tax or capital gains tax, on or after 6 April 2010.