ERSM165230 - International from 6 April 2025: ascertaining chargeable and unchargeable foreign securities income - from 6 April 2025: Sections 41J and 41K - supplemental provisions
Chapter 5B of Part 2 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA)听
The application of s41J & s41K Chapter 5B ITEPA has not changed as a result of the Finance Act 2025 changes.听
Location of employment duties听
Duties in UK merely incidental to duties outside UK and duties on board vessel or aircraft听
S41J ITEPA applies the provisions of s39(1) and (2) ITEPA (EIM40203) and s40 ITEPA (EIM40206) for the purposes of Chapter 5B Part 2 ITEPA.听
Employment in UK sector of continental shelf听
The effects of the provisions at s41 ITEPA in relation to general earnings (EIM40208) are mirrored for the purposes of Securities Income by s41J(2) ITEPA.听
Overseas Crown employment听
The effects of the provisions at s28 ITEPA in relation to general earnings (EIM40205) are mirrored for the purposes of Securities Income by s41K ITEPA.听