ITEPA03/S41C(7) provides that, where an individual is not
resident in the UK in a tax year which falls within a relevant
period, any other part of which falls within a tax year for which
remittance basis applies to the individual, then for the purposes
of determining FSI using the rules in section 41C he or she is
treated as if ITA07/S809B applied for the year of non-residence,
i.e. as if the remittance basis had been claimed for that year. The
effect of this is that where the remittance basis applies for part
of the relevant period, a year of non-residence within the same
period will also count towards the determination of the amount of
foreign securities income.
It should be noted that “not resident in the United
Kingdom” has the meaning attached to it for UK tax purposes;
a person who is resident in the UK and at the same time treaty
non-resident would not fall within section 41C(7).
