In the case of a repatriation of disposal proceeds, it simply means that the underlying foreign income or gains used to purchase the qualifying investment will not be regarded as having been remitted to the UK. There is no provision to prevent those repatriated proceeds from being regarded as chargeable to tax in the future if they are subsequently remitted back to the UK (ITA 2007, s. 809VL(2)).

Where the disposal proceeds are re-invested, then:

the underlying foreign income and gains used to purchase the original qualifying investment continue to be treated as not having been remitted to the UK;

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