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SCHEDULES

SCHEDULE 8E+W+S+N.I.Deemed domicile: income tax and capital gains tax

PART 2 E+W+S+N.I.Protection of overseas trusts

FA 2004E+W+S+N.I.

19In paragraph 8 of Schedule 15 to FA 2004 (income tax on benefits received by former owner of property: intangible property comprised in settlement where settlor retains an interest), after sub-paragraph (3) insert—

(4)For the purpose of deciding whether the condition in sub-paragraph (1)(a) is met, ignore section 628A of ITTOIA 2005 (which provides for section 624 of that Act not to apply to certain foreign income arising under a settlement).