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Chapter 3
Relevant Foreign Income Charged on Arising Basis: Deductions and Reliefs838Expenses attributable to collection or payment of relevant foreign income

(1)    In calculating the amount of relevant foreign income to be charged to income tax for a tax year, a deduction is allowed for expenses incurred outside the United Kingdom that are attributable to the collection or payment of the income.

(2)    Subsection (1) does not apply to income charged for the tax year in accordance with section 832 (relevant foreign income charged on the remittance basis).

NOTES
Initial Commencement
Specified date

This Act comes into force on 6 April 2005 and has effect, for the purposes of income tax for the year 2005–06 and subsequent tax years, and for the purposes of corporation tax for accounting periods ending after 5 April 2005: see s 883; for transitional provisions and savings see Sch 2 hereto.
Foreign Income95 Income Tax Allowances, Deductions & Reliefs96 Pensions Law95 Company Law & Business Entities92 Companies & Corporate Bodies92 Income Tax95 Trading Income93 Pensions Taxation95 Pensions Income95 Administration & Collection of Income Tax93 International Tax99 Tax Law95 Personal Taxes95 Overseas Elements of Income Tax99

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