Tax is charged under this Chapter on the full amount of the profits of the tax year F1(including amounts treated as profits of the tax year under section 23E(1)).

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This section is subject to Part 8 (foreign income: special rules).

And, for the purposes of section 830 (meaning of “relevant foreign income”), the profits of a trade, profession or vocation arise from a source outside the United Kingdom only if the trade, profession or vocation is carried on wholly outside the United Kingdom.