Legislation – Finance Act 2026
Changes to legislation:
Finance Act 2026, Paragraph 14 is up to date with all changes known to be in force on or before 16 April 2026. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
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Changes and effects yet to be applied to Schedule 3 Paragraph 14:
- Pt. 15 excluded by S.I. 2026/331 reg. 19
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- Pt. 15 excluded by S.I. 2026/331 reg. 19
Schedule 3Non-resident, and previously non-domiciled individuals
Part 2Temporary repatriation facility
Amounts derived from designated qualifying overseas capital
14
“Amounts derived from designated qualifying overseas capital
13A
(1)
This paragraph applies to an amount (“amount A”) if—
(a)
either—
(i)
the remittance of the amount to the United Kingdom would have the effect mentioned in paragraph 2(3)(a) or (b) by reference to income or gains, or
(ii)
the remittance of the amount would result in income being treated as arising to a settlement in accordance with section 648(3) (and accordingly would result in an amount falling within paragraph 6(1)(b) arising), and
(2)
Where amount A falls within sub-paragraph (1)(a)(i), so much of amount A (so far as it relates to the reference income or gains) as does not exceed amount B (so far as it relates to the reference income or gains) is to be treated—
(a)
as designated qualifying overseas capital, and
(b)
as designated on the basis it is qualifying overseas capital as a result of a remittance provision.
(3)
Where amount A falls within sub-paragraph (1)(a)(ii), so much of the amount falling within paragraph 6(1)(b) as would result from the remittance of amount A as does not exceed amount B (so far as it relates to the reference income or gains) is to be treated—
(a)
as designated qualifying overseas capital, and
(b)
as designated on the basis it is qualifying overseas capital as a result of a remittance provision.”