721Individuals with power to enjoy income as a result of relevant transactionsU.K.
(1)Income is treated as arising to such an individual as is mentioned in section 720(1) in a tax year for income tax purposes if conditions A and B are met.
(2)Condition A is that the individual has power in the tax year to enjoy income of a person abroad as a result of—
(a)a relevant transfer,
(b)one or more associated operations, or
(c)a relevant transfer and one or more associated operations.
(3)Condition B is that the income would be chargeable to income tax if it were the individual's and received by the individual in the United Kingdom.
(4)For the purposes of subsection (2), it does not matter whether the income may be enjoyed immediately or only later.
(5)It does not matter for the purposes of this section—
(a)whether the income would be chargeable to income tax apart from section 720,
(b)whether the individual is ordinarily UK resident at the time when the relevant transfer is made, or
(c)whether the avoiding of liability to income tax is a purpose for which the transfer is effected.
(6)For the circumstances in which an individual is treated as having the power to enjoy income for the purposes of this section, see section 722.