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Home / Simons-Taxes /Personal and employment tax /Part E1 Income tax /Division E1.11 Transfer of assets abroad /Individuals with power to enjoy income as a result of transfer of assets abroad / E1.1107 Charge under ITA 2007, s 720 on transfer of assets abroad—amount of income arising
Commentary

E1.1107 Charge under ITA 2007, s 720 on transfer of assets abroad—amount of income arising


Personal and employment tax

The charge to income tax under ITA 2007, s 720 at E1.1103 is on the amount of income treated as arising in the tax year, and the person liable for the tax charged is the UK resident individual to whom the income is treated as arising1. For 2016/17 and earlier years, the amount of income treated as arising to that individual is equal to the amount of the income of the person abroad (ie the income that the individual has the power to enjoy by virtue of the

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