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Income Tax Act 2007
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732Non-transferors receiving a benefit as a result of relevant transactions
This section has no associated Explanatory Notes
(1)This section applies if—
(a)a relevant transfer occurs,
(b)an individual who is ordinarily UK resident receives a benefit,
(c)the benefit is provided out of assets which are available for the purpose as a result of—
(i)the transfer, or
(ii)one or more associated operations,
(d)the individual is not liable to income tax under section 720 or 727 by reference to the transfer and would not be so liable if the effect of sections 726 and 730 were ignored, and
(e)the individual is not liable to income tax on the amount or value of the benefit (apart from section 731).
(2)Income is treated as arising to the individual for income tax purposes for any tax year for which section 733 provides that income arises.
(3)Also see that section for the amount of income treated as arising for any such tax year.
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