Section 41L — Income Tax (Earnings and Pensions) Act 2003: Chargeable and unchargeable foreign securities income: just and reasonable apportionment

Chargeable and unchargeable foreign securities income: just and reasonable apportionment 41L 1 This section applies if the proportion of the securities income that would otherwise be regarded as “chargeable foreign securities income” or “unchargeable foreign securities income” is not, having regard to all the circumstances, just and reasonable.

2 The amounts of the securities income that are “chargeable foreign securities income” and “unchargeable foreign securities income” are such amounts as are just and reasonable (rather than the amounts calculated in accordance with section 41H).