Regulation 48A Income treated as an annual payment treated as foreign incomeF1

If there is a foreign element of the tax treated as deducted under regulation 48(2)(b) (see regulation 48B), a corresponding proportionate part of the distribution which is treated as an annual payment under regulation 48(2)(a) is treated as if it were income that—

(a)

arises in a territory of the kind mentioned in regulation 48B(3)(a), and

(b)

is income by reference to which the tax treated under that provision as payable was computed.

Annotations

Textual amendments

F1: Regs. 48A, 48B inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Authorised Investment Funds (Tax) (Amendment No. 2) Regulations 2010 (S.I. 2010/1642), regs. 1(1), 5