SCHEDULES

SCHEDULE 27Remittance basis

Part 1Amendments of ITA 2007

4

1

Section 809E (application of remittance basis without claim: other cases) is amended as follows.

2

In subsection (1), for paragraph (c) substitute—

c

for that year the individual either has no UK income or gains or has no UK income and gains other than taxed investment income not exceeding £100.

3

In that subsection, insert at the end (not as part of paragraph (e))— “ unless the individual gives notice in a return under section 8 of TMA 1970 that this section is not to apply in relation to the individual for that year. ”

4

After subsection (2) insert—

2A

For the purposes of subsection (1)(c) “taxed investment income” means UK income or gains consisting of payments within section 946 from which a sum representing income tax has been deducted.