Paragraph 23 The accrued income scheme
United Kingdom
(1)
ITA 2007 is amended as follows.
(2)
In section 667 (trustees’ accrued income profits treated as settlement income), in subsection (2)—
(a)
in paragraph (a) omit “or domiciled outside the United Kingdom”;
(b)
in paragraph (b) omit “or domiciled in the United Kingdom”.
(3)
In section 680 (interest on securities involving accrued income losses: foreign trustees), in subsection (1)—
(a)
in paragraph (a) omit “or domiciled outside the United Kingdom”;
(b)
in paragraph (d) omit “, or domiciled in the United Kingdom,”.