For the purposes of sections 87 and 87A as they apply in relation to a settlement for a particular tax year, no account is to be taken of a capital payment (or part of a capital payment) within subsection (2), but this is subject to section 87P.
A capital payment is within this subsection—
if it is received by a beneficiary of the settlement before the particular tax year,
if the relevant person is resident in the United Kingdom in the tax year in which it is received,
if the relevant person is not resident in the United Kingdom in the particular tax year, and
so far as it has not been matched (under section 87A as it applies for tax years before the particular tax year) with—
the section 1(3) amount for any tax year before the particular tax year, but not earlier than the tax year 2018-19, in which the relevant person is resident in the United Kingdom, or
the section 1(3) amount for any tax year earlier than the tax year 2018-19.
For the purposes of subsection (2), the beneficiary is "the relevant person" unless section 87G(2) applies in relation to the capital payment in which event the settlor is "the relevant person".