Part 13 U.K. Tax avoidance

Chapter 2 U.K. Transfer of assets abroad

Modifications etc. (not altering text)

C1 Pt. 13 Ch. 2 applied by 1988 c. 1, s. 762ZA (as inserted (21.7.2008 with effect in accordance with Sch. 7 para. 98 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 94)

C2 Pt. 13 Ch. 2 applied (with effect in accordance with art. 1(2)(3) Sch. 1 of the amending S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), regs. 1(1), 21

C3 Pt. 13 Ch. 2 modified (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), Sch. 10 paras. 10(9), 11

[F1 Transitional provision about protected foreign-source income and transitionally protected income] U.K.

Textual Amendments

F1 Ss. 735AA-735AG and cross-heading inserted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), Sch. 12 paras. 44, 70(1) (with Sch. 12 para. 73)

[F2 735C [F3 Historical operation of section 733C or 733E where remittance basis applied] U.K.

(1) This section applies in relation to income if—

(a) [F4 the income was treated as arising to an individual for any of the tax years 2018-19 to 2024-25]—

(i) as a result of the operation of section 733C(3) and (4) where section 733C(3) [F5 applied] because of section 733C(2), or

(ii) as a result of the operation of section 733E, and

(b) section 809B, 809D or 809E (remittance basis) [F6 applied] to the individual for that year.

(2) The income is treated as relevant foreign income of the individual.

(3) For the purposes of Chapter A1 of Part 14 (remittance basis) treat the onward payment, or (as the case may be) the part of it whose amount or value is equal to the amount of the income, as deriving from the income.

(4) In the application of section 832 of ITTOIA 2005 in relation to the income, subsection (2) of that section has effect with the omission of its paragraph (b).

[F7 (5) A reference in subsection (1) to section 733C or 733E (or to any provision of either section) is to that section (or provision) as it had effect for the tax year for which income was treated as arising to the individual.]]

Textual Amendments

F2 S. 735C inserted (with effect for the tax year 2018-19 and subsequent years) by Finance Act 2018 (c. 3), Sch. 10 paras. 19, 21(1)

F3 S. 735C heading substituted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), Sch. 12 paras. 46(2), 70(1)

F4 Words in s. 735C(1)(a) substituted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), Sch. 12 paras. 46(3)(a)(i), 70(1)

F5 Word in s. 735C(1)(a)(i) substituted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), Sch. 12 paras. 46(3)(a)(ii), 70(1)

F6 Word in s. 735C(1)(b) substituted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), Sch. 12 paras. 46(3)(b), 70(1)

F7 S. 735C(5) inserted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), Sch. 12 paras. 46(4), 70(1)