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Income Tax Act 2007
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Changes over time for: Section 731
Version Superseded: 16/11/2017
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731Charge to tax on income treated as arising under section 732U.K.
This section has no associated Explanatory Notes
(1)Income tax is charged on income treated as arising to an individual under section 732 (non-transferors receiving a benefit as a result of relevant transactions).
(2)Tax is charged under this section on the amount of income treated as arising for the tax year.
[F1(2A)But see section 735 (non-UK domiciled individuals to whom remittance basis applies).]
(3)The person liable for any tax charged under this section is the individual to whom the income is treated as arising.
(4)For exemptions from the charge under this section, see sections 736 to [F2742A] (exemptions where no tax avoidance purpose or genuine commercial transaction [F3, etc]).
Textual Amendments
F1S. 731(2A) inserted (21.7.2008 with effect in accordance with Sch. 7 para. 170 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 168
F2Word in s. 731(4) substituted (with effect in accordance with Sch. 10 para. 9(2) of the amending Act) by Finance Act 2013 (c. 29), Sch. 10 para. 5(a)
F3Word in s. 731(4) inserted (with effect in accordance with Sch. 10 para. 9(2) of the amending Act) by Finance Act 2013 (c. 29), Sch. 10 para. 5(b)
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