Finance (No. 2) Act 2017

Remittance basis

41 (1) Section 554Z10 (remittance basis: A meets section 26A requirement) is amended in accordance with this paragraph.

(2) In subsection (1) for “Subsection (2) applies” substitute “Subsections (2) and (2A) apply”.

(3) At the beginning of subsection (2) insert “Except in a case within subsection (2AA),”.

(4) After subsection (2) insert—

“(2AA) Where the relevant step is within paragraph 1 of Schedule 11 to F(No. 2)A 2017, the overseas portion of (as the case may be)—

(a) A’s employment income by virtue of section 554Z2(1), or

(b) the relevant part of A’s employment income by virtue of that section,

is “taxable specific income” in the tax year in which the relevant step is treated as being taken so far as the overseas portion is remitted to the United Kingdom in that tax year or in any previous tax year.”