SCHEDULES
SCHEDULE 8Deemed domicile: income tax and capital gains tax
PART 2Protection of overseas trusts
ITTOIA 2005
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1
Section 635 (capital sums treated under section 633 as income: meaning of “available income”) is amended as follows.
2
In subsection (2), before “income” insert “
unprotected
”
.
3
After subsection (4) insert—
5
In subsection (2) “unprotected income” means income which is not protected foreign-source income, and sections 628A(2) to (13) and 628B (meaning of “protected foreign-source income”) have effect also for this purpose.