Income Tax (Trading and Other Income) Act 2005

830 Meaning of “relevant foreign income”

(1) In this Act “relevant foreign income” means income which arises from a source outside the United Kingdom and is chargeable under any of the provisions specified in subsection (2).

(2) The provisions are—

(a) Chapter 2 of Part 2 (trade profits),

(b) Chapter 17 of Part 2 (adjustment income),

(c) Chapter 3 of Part 3 (profits of property business),

(d) Chapter 11 of Part 3 (overseas property income),

(e) Chapter 2 of Part 4 (interest),

(f) Chapter 4 of Part 4 (dividends from non-UK resident companies),

(g) Chapter 7 of Part 4 (purchased life annuity payments),

(h) Chapter 8 of Part 4 (profits from deeply discounted securities),

(i) Chapter 13 of Part 4 (sales of foreign dividend coupons),

(j) section 579 (royalties and other income from intellectual property),

(k) Chapter 3 of Part 5 (films and sound recordings: non-trading businesses),

(l) Chapter 4 of Part 5 (certain telecommunication rights: non-trading income),

(m) section 649 (estate income),

(n) Chapter 7 of Part 5 (annual payments not otherwise charged), and

(o) Chapter 8 of Part 5 (income not otherwise charged).

(3) But “relevant foreign income” does not include income chargeable as a result of section 844 (unremittable income: income charged on withdrawal of relief after source ceases).

(4) For the treatment of other income as relevant foreign income, see—

(a) section 857(3) (a partner’s share of a firm’s trading income),

(b) paragraph 6(3) of Schedule 3 to the Commonwealth Development Corporation Act 1999 (c. 20) (distributions by the Commonwealth Development Corporation),

(c) section 575(3) of ITEPA 2003 (taxable pension income: foreign pensions),

(d) section 613(4) of that Act (taxable pension income: foreign annuities),

(e) section 631(3) of that Act (pre-1973 pensions paid under the Overseas Pensions Act 1973 (c. 21)),

(f) section 635(4) of that Act (taxable pension income: foreign voluntary annual payments), and

(g) section 679(2) of that Act (taxable social security income: foreign benefits).