Section 87B — Finance Act 2008: Section 87: remittance basis

Section 87: remittance basis 87B 1 This section applies if—

a chargeable gains are treated under section 87 as accruing to an individual in a tax year, b section 809B, 809D or 809E (remittance basis) applies to the individual for that year, and c the individual is not domiciled in the United Kingdom in that year.

2 The chargeable gains are foreign chargeable gains within the meaning of section 12 (non-UK domiciled beneficiaries to whom remittance basis applies).

3 For the purposes of Chapter A1 of Part 14 of ITA 2007 (remittance basis) treat relevant property or benefits as deriving from the chargeable gains.

4 For the purposes of subsection (3) property or a benefit is “relevant” if the capital payment by reason of which the chargeable gains are treated as accruing consists of—

a the payment or transfer of the property or its becoming property to which section 60 applies, or b the conferring of the benefit.