Section 700A Employment-related securities etc: internationally mobile employeesF1 F3

United Kingdom

(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 F241F.

Annotations

F1: S. 700A inserted (with effect in accordance with Sch. 7 para. 80 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 38
F2: Word in s. 700A(3) substituted (with effect in accordance with Sch. 9 para. 48 of the amending Act) by Finance Act 2014 (c. 26), Sch. 9 paras. 21, 47
F3: Words in s. 700A heading substituted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), s. 40(4), Sch. 9 para. 3(16)

C1: Pt. 11 power to amend or repeal conferred (21.7.2009) by Finance Act 2009 (c. 10), Sch. 58 para. 10