Part 8

Foreign income: special rules
Chapter 1

Introduction

Meaning of “relevant foreign income”
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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).