Commentary

E1.1202 Time when income is treated as arising

Personal and employment tax

E1.1202 Time when income is treated as arising

E1.1202 Time when income is treated as arising

Income arising where derivative property or right obtained

Where the capital amount consists of property (eg shares in a company) or a right (eg under a settlement) which derives substantially the whole of its value from the activities of the individual, there is no charge under these provisions on the receipt of that capital amount. However, when the property or right is sold or otherwise realised, tax under these provisions is charged by reference to the proceeds of sale or realisation1. The same rule applies where there is more than one occasion

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