SCHEDULES

SCHEDULE 10Transfer of assets abroad

PART 2New exemption for genuine transactions etc

2

1

Section 718 (meaning of “person abroad” etc) is amended as follows.

2

For subsection (1) substitute—

1

In this Chapter “person abroad” means—

a

a person who is resident outside the United Kingdom, or

b

an individual who is domiciled outside the United Kingdom.

3

Omit subsection (2)(a).