Part 11Pay As You Earn

Chapter 4PAYE: special types of income

Income provided in other ways

F1700AEmployment-related securities etc: F2internationally mobile employees

(1)

This section applies if—

(a)

section 698 or 700 applies, and

(b)

part or all of the amount that counts as employment income is foreign securities income or is likely to be foreign securities income.

(2)

The amount of the payment treated under section 696 as made is limited to—

(a)

the amount that, on the basis of the best estimate that can reasonably be made, is likely to count as employment income, minus

(b)

the amount that, on the basis of such an estimate, is likely to be foreign securities income.

(3)

References in this section to “foreign securities income” are to income that is foreign securities income for the purposes of section F341F.