Income tax anti-avoidance provisions contained in ITA 2007, s 713 which seek to prevent the avoidance of UK taxation by an individual resident in the UK by a transfer of assets abroad.

STOP PRESS: Changes to transfer of assets abroad code. Between 30 October 2024 and 19 February 2025, the government set out a call for evidence to understand and identify areas where the personal tax offshore anti-avoidance rules could be improved or updated, including the transfer of assets abroad code (TOAA Code). The government’s intention was to explore options to remove ambiguity and uncertainty in the legislation, make the rules simpler to apply in practice and ensure the provisions are effective. One outcome of the consultation was respondents highlighting the differing and subjective nature of the motive defences, creating inherent uncertainty and complexity. A policy paper was published on 26 November 2025 which states that the government intends to substantially simplify the legislation in this area and will design potential new policy and modernised legislation. Any changes in legislation are not expected to be in place before the 2027/28 UK tax year at the earliest. For further information, see: Open call for evidence: Offshore

History of the transfer of assets abroad code The anti-avoidance provisions relating to a transfer of assets abroad are contained in Chapter 2, Part 13 of the Income Tax Act 2007 (ITA 2007). Throughout the Practice Notes, we refer to the legislation as ‘the TAA Code’. The TAA Code is a widely drafted set of anti-avoidance provisions that seek to prevent the avoidance of UK taxation by an individual resident in the UK by a transfer of assets abroad. As such, these provisions must be considered where UK resident taxpayers are establishing any non-UK structure, eg offshore company, trust foundation, etc. For periods up to 6 April 2013, the TAA Code applied only to individuals who were ordinarily UK resident, but from 6 April 2013 it applies to UK residents. The word ‘ordinary’ was removed by Schedule 46, paragraphs 54, 60–64 of the Finance Act 2013 (FA 2013) when the concept of ordinary residence was abolished, subject to transitional provisions. See the Practice Note: Abolition of ordinary residence from 6 April 2013 [Archived] for further details. There

This Practice Note considers the charging provisions on individuals under section 731 of the Income Tax Act 2007 (ITA 2007), also known as ‘the benefits charge’. Prior to 6 April 2017, the charge applied to non-transferors only and was commonly referred to as the ‘non-transferor charge’. From 6 April 2017 until 5 April 2025, the benefits charge also applied to any transferor who was non-UK domiciled or deemed UK domiciled as a so-called ‘long stayer’ under the deemed domicile rules in force between 6 April 2017 and 5 April 2025 — see Practice Note: Deemed domicile for tax from 6 April 2017 to 5 April 2025 [Archived] — The 15-year rule (income tax and CGT). For a charge to apply under ITA 2007, s 731, an individual must be in receipt of income treated as arising under ITA 2007, s 732, referred to in this Practice Note as ‘s 732 income’. The Transfer of assets abroad—introduction Practice Note provides a general introduction to the Transfer of Assets Abroad Code (the TAA Code). Charge

This Practice Note considers the charge to of 'transferors' under the transfer of assets abroad code (TAA Code) where income of a person abroad is treated as arising to the transferor under section 720 of the Income Tax Act 2007 (ITA 2007). See Practice Note: Transfer of assets abroad—introduction, which provides a general introduction to the TAA Code. Charge where power to enjoy income For the 'power to enjoy' charging provisions to apply, there must have been a 'relevant transfer' by a person who is resident in the UK (transferor), with the effect that income has become payable to a person outside the UK. See Practice Note: Transfer of assets abroad—introduction—What is a transfer of assets abroad?. For the charge to apply, the transferor must be UK resident in the tax year of the charge; however, there is no requirement for the transferor to have been UK resident when the transfer of assets occurred. For periods up to 6 April 2013 the provisions applied only to individuals who were ordinarily

This Practice Note considers the income tax charge under sections 727–730 of the Income Tax Act 2007 (ITA 2007). Broadly, the charge may apply where: • a relevant transfer results in income becoming payable to a person abroad; • an individual who is the transferor receives, or is entitled to receive, a capital sum connected with a relevant transaction; and • the individual is UK resident for the relevant tax year The receipt of, or entitlement to receive, the capital sum is a condition for the application of the charge. The capital sum is not itself necessarily the amount taxed. The amount charged is the income of the person abroad that is treated as arising to the individual under ITA 2007, s 728. For information on the separate income charge applicable where a transferor has power to enjoy income, see Practice Note: Transfer of assets abroad—transferors having the power to enjoy income. See the Transfer of assets abroad—introduction Practice Note for a general introduction on the Transfer of Assets Abroad Code

The Master Deed historically has been the standardised process used in the oil and gas industry on the United Kingdom Continental Shelf (UKCS) to formalise asset transfers. It is a well-established process and covers two areas: (i) pre-emption, and (ii) standardised transfer arrangements. However, the Master deed system and process to join it have been suspended, with no timing indicated for its reinstatement. If you are actively structuring a deal, you are advised to contact LOGICbefore attempting any formal platform submissions. This Practice Note provides an overview of the Master Deed process if/when it is operational. The Master Deed has four key aims: • standardise existing pre-emption provisions • create pro-forma transfer arrangements • reduce complexity around signing documentation, and • increase certainty around the timing of completion Structure The concept of the Master Deed is enshrined in the body of the Master Deed, however the majority of the day-to-day relevant provisions are contained in the schedules and are broken down as follows: • main body—appoints the Administrator to run

An arrangement which provides for school premises to be used by members of the local community - usually outside school hours.

1 Definitions Contamination • means the presence of any Hazardous Substances in the soil and water at or under the Property and/or the migration of Hazardous Substances to or from the Property Environment • means all or any of the following: namely air, water (including surface water, groundwater and water in drains and sewers) and land (including sub-surface land and land under water) and any living organisms (including humans) or ecosystems supported by those media Environmental Law • means all applicable laws (whether statutory or common law and whether civil, criminal or administrative), directives, regulations,

How to use this Checklist This Checklist highlights issues which commonly arise during the negotiation and drafting of agreements to transfer intellectual property rights (IPRs) in a website. However, many of the issues raised are also relevant to other types of transaction. Key commercial considerations include: • technical or functional specifications • clarifying the IPRs in question • cross-licensing • the basis on which the rights are being transferred • third party rights The third column can be used to record observations or comments as the Checklist is worked through. Checklist for the transfer of intellectual property rights in a website Checklist Further information Notes (if any) Key commercial considerations ☐ Confirm each party’s legal status and whether any third parties (such as group affiliates) will benefit from the proposed agreement. ☐ Confirm when the transfer will take effect and whether this is conditional on any other agreements or events. ☐ Confirm whether the proposed agreement will be a one-off transfer of IPRs or whether there will be any ongoing

Precedent transfer An adaptable Word version of the precedent form TP1 can be downloaded, saved or printed from this link: Drafting notes to precedent transfer Panel 1—Title numbers If there are a number of properties, each title number should be listed alphanumerically and may be numbered starting with one, and each property listed in the same order as the title numbers and correspondingly numbered. Use form TR5 if there is a substantial number of registered titles. Panel 3—Property description The optional wording is for use where the Property is unregistered. Where a plan accompanies the transfer, the application for registration will be rejected if HM Land Registry’s detailed rules relating to plans are not followed. The rules are set out in HM Land Registry Practice Guide 40: guide overview of Land Registry plans and its associated supplements. In the case of a dealing with part of the land in a registered title, the plan must be signed by the seller or their conveyancer. Where a plan is not sufficient to allow clear identification of the land or an easement, HM Land Registry may ask

Precedent transfer Exchanges are now almost invariably effected by separate transfers, each containing the usual title guarantees given by ordinary sellers. There is no restriction on the nature or value of the properties exchanged. A freehold interest can validly be exchanged for a leasehold interest (IRC v Littlewoods Mail Order Stores [1962] 2 All ER 279, HL) and any necessary payment can be included by way of equality of exchange. An adaptable Word version of the precedent form TP1 can be downloaded, saved or printed from the link on this page. Drafting notes to precedent transfer Panel 1—Title numbers If there are a number of properties, each title number should be listed alphanumerically (numbered starting with 1), and listed in the same order as the title numbers and correspondingly numbered. Panel 3—Property description The optional wording is for use where the Property is unregistered. Where a plan accompanies the transfer, HM Land Registry (HMLR)’s detailed rules relating to plans must be followed, otherwise the application for registration will be rejected. The rules are set out in HM Land Registry