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Legislation
Income Tax Act 2007

Crossheading Relief where transfer proceeds unremittable

  • Section 668 Relief for unremittable transfer proceeds: general
  • Section 669 Relief for unremittable transfer proceeds: section 630 profits
  • Section 670 Withdrawal of relief
  1. Relief where transfer proceeds unremittable
  2. Withdrawal of relief

Section 670 | Withdrawal of relief

From legislation.gov.uk

(1)This section applies if—

(a)a claim under section 668(2) or 669(2) has been made in relation to profits, and

(b)the proceeds of the transfers cease to be unremittable.

(2)The claimant is treated as making accrued income profits of an amount equal to the reduction under that section.

(3)If the claimant has died, the claimant's personal representatives are so treated.

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