200. Unremittable income.

If a person is liable for income tax or corporation tax on income arising in a territory outside the United Kingdom, which is unremittable1, and makes a claim for relief in respect of that income, it is not taken into account for income tax purposes or, as the case may be, corporation tax purposes2.

If a claim for relief has been made in respect of any unremittable income and either the income ceases to be unremittable or an ECGD payment3 is made in relation to it, then in the former case the income is treated as arising on the date