ERSM160810 | Ascertaining Foreign Securities Income (FSI) - up to 5 April 2015: introduction

The concept of “foreign securities income” is introduced by ITEPA03/S41A(5). Section 41A(5)(b) says that foreign securities income (“FSI”) is the amount of securities income that is foreign. The detail on what this means is given at ITEPA03/S41C. If an employee has FSI it will only be taxed if it is remitted to the UK (ITEPA03/S41A(6)).