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There are currently no known outstanding effects for the Taxation (International and Other Provisions) Act 2010, Cross Heading: Cases in which credit not allowed.
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(1)Subsection (2) applies if relief may be allowed—
(a)under the arrangements, or
(b)under the law of the non-UK territory in consequence of the arrangements,
in respect of an amount of tax that would, but for the relief, be payable under the law of that territory.
(2)Credit under section 18(2) is not allowed in respect of that tax, whether or not the relief has been used.
(1)Credit under section 18(2) against income tax, corporation tax or capital gains tax for a chargeable period is not allowed unless the person in respect of whose income or chargeable gains the tax is chargeable is UK resident for that period.
(2)Sections 28 to 30 (credit under unilateral relief arrangements allowed to some non-UK resident persons) contain exceptions to subsection (1).
(3)In subsection (1) so far as it relates to capital gains tax “chargeable period” means tax year (see section 288(1ZA) of TCGA 1992).
(4)In subsection (1) so far as it relates to capital gains tax “UK resident” has the meaning given by section 989 of ITA 2007.
Credit under section 18(2) against income tax, corporation tax or capital gains tax charged on any income or chargeable gains of a person is not allowed if the person elects for credit not to be allowed in respect of that income or those gains.
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