Section 809Z7 — Finance Act 2008: Interpretation of Chapter

Interpretation of Chapter 809Z7 1 This section applies for the purposes of this Chapter.

2 An individual's “ foreign income and gains ” for a tax year are—

a the individual's relevant foreign earnings for that year, b the individual's foreign specific employment income for that year, c the individual's relevant foreign income for that year, and d if the individual is not domiciled in the United Kingdom in that year, the individual's foreign chargeable gains for that year.

3 An individual's “ relevant foreign earnings ” for a tax year are—

a if the individual is ordinarily UK resident in that year, the individual's chargeable overseas earnings for that year, and b otherwise, the individual's general earnings within section 26(1) of ITEPA 2003 for that year (non-UK earnings).

4 An individual's “ foreign specific employment income ” for a tax year is such of the individual's specific employment income for that year as is foreign securities income for the purposes of section 41A of ITEPA 2003.

5 An individual's “ foreign chargeable gains ” for a tax year are the foreign chargeable gains (within the meaning of section 12(4) of TCGA 1992) accruing to the individual in that year.

6 In subsection (3)(a) “ chargeable overseas earnings ” has the same meaning as in section 22 of ITEPA 2003 (see section 23 of that Act). 7 “ The Commissioners ” means the Commissioners for Her Majesty's Revenue and Customs.