Income Tax (Trading and Other Income) Act 2005 section 151

Relevant foreign income charged on remittance basis: delayed remittances

Section 151 originally dealt with the treatment of delayed remittances of relevant foreign income taxed on the remittance basis, but has been repealed.

• This section has been fully repealed and is no longer in force.
• The repeal was enacted by the Finance Act 2008, Schedule 7, paragraph 72.
• The section previously addressed situations where foreign income taxable on the remittance basis was remitted to the UK after a delay.
• Practitioners should refer to the current remittance basis rules in the Income Tax Act 2007 and subsequent Finance Acts for the applicable provisions.