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Income Tax Act 2007

Section 727: Charge to tax on income treated as arising under section 728

2153.This section imposes the charge to income tax, on individuals receiving capital sums as a result of relevant transactions, which was previously imposed by section 739(3) of ICTA. It indicates the measure of income and the person liable. It is based on sections 739 and 743 of ICTA. It is one of a sequence of sections (sections 727 to 730) which are based on the former charge under section 739(3).

2154.Sections 727 to 730 defeat schemes designed to avoid liability under sections 720 to 726.

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