SCHEDULE 3 Offshore Receipts in Respect of Intangible Property
Finance Act 2019 (2019 c 1) | Legislation

SCHEDULE 3 Offshore Receipts in Respect of Intangible Property

Section 15

1

ITTOIA 2005 is amended as follows.

2

(1)     Section 574 (overview of Part 5) is amended as follows.

(2)     In subsection (1) after paragraph (a) insert—

“(aa)     Chapter 2A (offshore receipts in respect of intangible property),”.

(3)     In subsection (2) at the end insert “(but see section 608X)”.

3

(1)     Section 576 (priority between Chapters within Part 5) is amended as follows.

(2)     The existing provision becomes subsection (2) of that section.

(3)     Before that subsection insert—

“(1)     Any income, so far as it falls within Chapter 2 (receipts from intellectual property) and Chapter 2A (offshore receipts in respect of intangible property), is dealt with under Chapter 2.”

4

After section 608 insert—

“Chapter 2A
Offshore Receipts in Respect of Intangible Property
Charge to tax on offshore receipts in respect of intangible property
608A Charge to tax on UK-derived amounts

(1)     This section applies if—

(a)     at any time in a tax year, a person is not UK resident and is not resident in a full treaty territory, and

(b)     UK-derived amounts arise to the person in the tax year.

(2)

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