Explanatory Notes

Income Tax (Trading and Other Income) Act 2005

2005 CHAPTER 5

24 March 2005

Commentary on Sections

Schedule 2: Transitionals and savings etc.

Part 11: Foreign income: special rules

Paragraph 150: Relevant foreign income charged on remittance basis: income arising before the tax year 2005-06

3687.This paragraph ensures that Chapter 2 of Part 8 of this Act is not restricted in its operation to income that arose after the tax year 2004-05 (whenever the earlier income is remitted).