33U.K.In section 730 (individuals to whom remittance basis applies), after subsection (5) insert—
“(6)In addition, where the tax year in which any foreign deemed income arises is earlier than the tax year 2017-18, section 832 of ITTOIA 2005 does not apply to the foreign deemed income so far as it—
(a)is remitted to the United Kingdom in the tax year 2017-18 or a later tax year, and
(b)is transitionally protected income.
(7)In subsection (6)—
“remitted to the United Kingdom” is to be read in accordance with Chapter A1 of Part 14, and
“transitionally protected income” means any foreign deemed income where the income mentioned in section 728(1)(a)—
(a)arises in a tax year earlier than the tax year 2017-18,
(b)would be protected foreign-source income as defined by section 729A if section 729A—
(i)had effect for tax years earlier than the tax year 2017-18, and
(ii)so had effect with the omission of its subsections (3)(e), (4)(h), (5) and (6), and
(c)has not prior to 6 April 2017 been distributed by the trustees of the settlement concerned.”