xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"

Part 13U.K.Tax avoidance

Chapter 2U.K.Transfer of assets abroad

Modifications etc. (not altering text)

C1Pt. 13 Ch. 2 applied by 1988 c. 1, s. 762ZA (as inserted (21.7.2008 with effect in accordance with Sch. 7 para. 98 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 94)

C2Pt. 13 Ch. 2 applied (with effect in accordance with art. 1(2)(3) Sch. 1 of the amending S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), regs. 1(1), 21

IntroductionU.K.

714Overview of ChapterU.K.

(1)This Chapter imposes a charge to income tax on—

(a)individuals to whom income is treated as arising under section 721 (individuals with power to enjoy income as a result of relevant transactions),

(b)individuals to whom income is treated as arising under section 728 (individuals receiving capital sums as a result of relevant transactions), and

(c)individuals to whom income is treated as arising under section 732 (non-transferors receiving a benefit as a result of relevant transactions).

(2)The charges apply only if a relevant transfer occurs, and they operate by reference to income of a person abroad that is connected with the transfer or another relevant transaction.

(3)For the meaning of “relevant transaction”, “relevant transfer” and “person abroad”, see sections 715, 716 and 718 respectively.

(4)In this Chapter references to individuals include their spouses or civil partners.