Section 809V | Money paid to the Commissioners ^F1F2

(1)Subsection (2) applies to income or chargeable gains of an individual if—

(a)the income or gains would (but for subsection (2)) be regarded as remitted to the United Kingdom by virtue of the bringing of money to the United Kingdom,

(b)the money is brought to the United Kingdom by way of one or more direct payments to the Commissioners, and

(c)the payments are made in relation to a tax year to which section 809H applies as regards the individual.

(2)The income or chargeable gains are to be treated as not remitted to the United Kingdom to the extent that the payments do not exceed the applicable amount (as defined in section 809H).

(3)Subsection (2) does not apply to payments if or to the extent that they are repaid by the Commissioners.