Part 13

Tax avoidance
Chapter 2

Transfer of assets abroad

Charge where benefit received

Charge to tax on income treated as arising under section 732
731
1
Income tax is charged on income treated as arising to an individual under section 732 (non-transferors receiving a benefit as a result of relevant transactions).
1A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1C. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Tax is charged under this section on the amount of income treated as arising for the tax year.
2A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
The person liable for any tax charged under this section is the individual to whom the income is treated as arising ...
4
For exemptions from the charge under this section, see sections 736 to 742 (exemptions where no tax avoidance purpose or genuine commercial transaction , etc).
Word in s. 731(4) substituted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), Sch. 12 paras. 38(5), 70(1)
Word in s. 731(4) inserted (with effect in accordance with Sch. 10 para. 9(2) of the amending Act) by Finance Act 2013 (c. 29), Sch. 10 para. 5(b)
Words in s. 731(3) omitted (for the tax year 2025-26 and subsequent tax years) by virtue of Finance Act 2025 (c. 8), Sch. 12 paras. 38(4), 70(1)
Pt. 13 Ch. 2 modified (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), Sch. 10 paras. 10(9), 11
S. 731(1A)-(1C) omitted (for the tax year 2025-26 and subsequent tax years) by virtue of Finance Act 2025 (c. 8), Sch. 12 paras. 38(3), 70(1)
S. 731(2A) omitted (for the tax year 2025-26 and subsequent tax years) by virtue of Finance Act 2025 (c. 8), Sch. 12 paras. 38(3), 70(1)
Words in s. 731(1) substituted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), Sch. 12 paras. 38(2), 70(1)
Pt. 13 Ch. 2 applied (with effect in accordance with art. 1(2)(3) Sch. 1 of the amending S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), regs. 1(1), 21
Pt. 13 Ch. 2 applied by 1988 c. 1, s. 762ZA (as inserted (21.7.2008 with effect in accordance with Sch. 7 para. 98 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 94)