# Finance Act 2025, Paragraph 25

Extent: E+W+S+N.I.

(1) Section 648 (income arising under a settlement) is amended as follows.
(2) In subsection (1)(b), omit “domiciled and”.
(3) In subsection (3)—
(a) for “if, for a tax year, section 809B, 809D or 809E of ITA 2007 (remittance basis) applies”, substitute “if, for the tax year 2024-25 or an earlier tax year, section 809B, 809D or 809E of ITA 2007 (remittance basis) applied”;
(b) for “relevant foreign income” substitute “specified foreign income”.
(4) At the end insert—
“(6) In subsection (3), “specified foreign income” means income that would be relevant foreign income if it were the income of a UK resident individual.”

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Source: https://www.legislation.gov.uk/ukpga/2025/8/schedule/12/paragraph/25 (the official version)
Page: https://openlegislation.uk/finance-act-2025/schedule-12/paragraph-25
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.