Finance Act 1995

10 (1) This paragraph applies where, in the case of any income (other than income falling within paragraph 6 or 9 above) arising to any person from any source—

(a) paragraph 4(2) or 6(2)(a) of Schedule 20 to the [1994 c. 9.] Finance Act 1994 applies; and

(b) any amount which is included in the income arising within the years 1995-96 and 1996-97 would not have been so included if—

(i) any relevant arrangements made between that person and another had not been made; or

(ii) any relevant transaction entered into by that person had not been entered into.

(2) Subject to sub-paragraph (3) below, the said paragraph 4(2) or 6(2)(a) shall have effect as if the reference to 50 per cent. of the aggregate of the amounts there mentioned were a reference to the aggregate of—

(a) 50 per cent. of each of those amounts; and

(b) 62.5 per cent. of each of the amounts falling within sub-paragraph (1)(b) above.

(3) Sub-paragraph (3) of paragraph 9 above shall apply for the purposes of this paragraph as it applies for the purposes of that paragraph.