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Chapter 5B is structured as follows:

ITEPA03/S41F (ERSM162400)

Section 41F sets out the conditions for the Chapter to apply and provides that securities income which is ‘foreign� is deducted from total securities income to give an amount of ‘taxable specific income� which is charged to tax for a particular year.

ITEPA03/S41G (ERSM162500)

Section 41G provides the statutory rules for determining the ‘relevant period� for securities income arising by virtue of each of Chapters 2 to 5 of Part 7.

ITEPA03/S41H to S41K (ERSM162600)

Sections 41H to 41K provide the rules by which securities income is determined to be ‘chargeable foreign securities income� and ‘unchargeable foreign securities income�.

ITEPA03/S41L (ERSM162700)

Section 41L provides an ‘override� of the statutory rules where the application of those rules does not produce a just and reasonable result.