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Taxation (International and Other Provisions) Act 2010

Section 809CZC: Tax charged on income transferred

1181.This section imposes a charge to income tax in certain cases in which, under a loan or credit transaction, a person transfers income arising from property without a sale or transfer of the property. It is based on section 786(5) to (7) of ICTA.

1182.Subsection (1) states when this section applies.

1183.Subsection (2) imposes the charge to income tax, quantifies the amount taxable, and specifies the person liable.

1184.Subsections (3) to (7) are supplementary.

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