700AEmployment-related securities etc: remittance basis

1

This section applies if—

a

section 698 or 700 applies, and

b

part or all of the amount that counts as employment income is foreign securities income or is likely to be foreign securities income.

2

The amount of the payment treated under section 696 as made is limited to—

a

the amount that, on the basis of the best estimate that can reasonably be made, is likely to count as employment income, minus

b

the amount that, on the basis of such an estimate, is likely to be foreign securities income.

3

References in this section to “foreign securities income” are to income that is foreign securities income for the purposes of section 41A.