C1C2Part 2Double taxation relief
Pt. 2 applied by 2010 c. 4, s. 269DL(6) (as inserted (with effect in accordance with Sch. 3 Pt. 3 of the amending Act) by Finance (No. 2) Act 2015 (c. 33), Sch. 3 para. 1)
C2CHAPTER 2Double taxation relief by way of credit
Exceptions to requirement to be UK resident
28Unilateral relief for Isle of Man or Channel Islands tax
1
Subsection (2) applies if the arrangements—
a
are unilateral relief arrangements for a territory outside the United Kingdom, and
b
provide for credit to be allowed for tax paid under the law of the Isle of Man (“the Isle of Man tax”).
2
Credit under section 18(2) against any of the UK taxes for a chargeable period may be allowed for the Isle of Man tax if the person in respect of whose income or chargeable gains the UK tax is payable is—
a
resident for that period in the United Kingdom, or
b
resident for that period in the Isle of Man.
3
Subsection (4) applies if the arrangements—
a
are unilateral relief arrangements for a territory outside the United Kingdom, and
b
provide for credit to be allowed for tax paid under the law of any of the Channel Islands (“the Channel Islands tax”).
4
Credit under section 18(2) against any of the UK taxes for a chargeable period may be allowed for the Channel Islands tax if the person in respect of whose income or chargeable gains the UK tax is payable is—
a
resident for that period in the United Kingdom, or
b
resident for that period in any of the Channel Islands.
5
Each of the following is a UK tax for the purposes of this section—
a
income tax,
b
corporation tax, and
c
capital gains tax.
6
In subsections (2) and (4) so far as they relate to capital gains tax “chargeable period” means tax year (see section 288(1ZA) of TCGA 1992).
Pt. 2 modified by 1988 c. 1, Sch. 19ABA paras. 26-28 (as inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 34(3) (with Sch. 9 paras. 1-9, 22))