Section 244JA | Amount of charge

(1)Where the overseas transfer charge arises under section 244AC in relation to a transfer, the charge is—

(a)in a case where the transfer is an onward transfer and the overseas transfer charge under section 244IA(1) arose in relation to the original transfer, 25% of so much of the transferred value of the original transfer as did not exceed the amount of the member’s overseas transfer allowance that was available on the making of the original transfer;

(b)in any other case, 25% of the transferred value.

(2)Where the overseas transfer charge arises under section 244IA in relation to a transfer, the charge is 25% of so much of the transferred value as exceeds the amount of the member’s overseas transfer allowance that is available on the making of the transfer.