Commentary

E1.1113 Charge under ITA 2007, s 727 on transfer of assets abroad—the capital receipt conditions

Personal and employment tax

E1.1113 Charge under ITA 2007, s 727 on transfer of assets abroad—the capital receipt conditions

E1.1113 Charge under ITA 2007, s 727 on transfer of assets abroad—the capital receipt conditions

For the purpose of E1.1112, the capital receipt conditions are met in respect of the individual in a tax year (year X) if1:

  1.  

    (a)     either:

    1.  

      (i)     in year X the individual receives, or is entitled to receive, any capital sum (whether before or after the relevant transfer), or

    2.  

      (ii)     (subject to below) in any tax year prior to year X the individual has received any capital sum (whether before or after the relevant transfer), and

  2.  

    (b)     the payment of that capital sum is (or, in

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