Government securities in foreign ownership: exclusion of repayment of Income Tax on FOTRA gilts
Repayment of income tax relating to interest on FOTRA gilts (IHTM04291) also falls within the exclusion for such securities
- if an existing warrant for repayment remains uncashed at the date of the relevant chargeable event
- in the case of a trust, if the proceeds of an encashed warrant are held - at the date of the chargeable event - by the trustees pending distribution in the administration of the trust, or
- if the repayment due up to the date of the chargeable event is receivable after the date.A repayment encashed - before a chargeable event - by the person beneficially entitled (
IHTM04031) to the repayment is not eligible for the exclusion on that event.