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Home / Simons-Taxes /IHT, trusts and estates /Part I3 Lifetime transfers /Division I3.7 Pre-owned assets tax (POAT) /Pre-owned assets tax (POAT)—introduction / I3.702 Pre-owned assets tax (POAT)—overview
Commentary

I3.702 Pre-owned assets tax (POAT)—overview


IHT, trusts and estates

FA 2004, Sch 15 imposes an income tax charge on individuals, based on:

  1. Ìý

    •ÌýÌýÌýÌý the benefit they enjoy from the occupation of land or the possession or use of chattels which they once owned, or which they assisted other persons to acquire, and

  2. Ìý

    •ÌýÌýÌýÌý their deemed power to enjoy intangible property in certain settlor-interested

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