Section 700A Employment-related securities etc: remittance basis
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Amendments
Section 700A inserted by Finance Act 2008 section 25 and Schedule 7 para 38 in relation to employment-related securities and employment-related securities options where the date of the acquisition is on or after 6 April 2008.
(1) This section applies if—
(a) section 698 or 700 applies, and
(b) part or all of the amount that counts as employment income is foreign securities income or is likely to be foreign securities income.
(2) The amount of the payment treated under section 696 as made is limited to—
(a) the amount that, on the basis of the best estimate that can reasonably be made, is likely to count as employment income, minus
(b) the amount that, on the basis of such an estimate, is likely to be foreign securities income.
(3) References in this section to “foreign securities income” are to income that is foreign securities income for the purposes of section 41A.
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