SCHEDULES

SCHEDULE 8Deemed domicile: income tax and capital gains tax

PART 2Protection of overseas trusts

ITTOIA 2005

21

In section 624 (income under a settlement where settlor retains an interest), in subsection (3) (which lists provisions containing exceptions)—

a

omit the “and” at the end of the entry for section 627, and

b

after the entry for section 628 insert

, and

section 628A (exception for protected foreign-source income).