Section 722 — Income Tax Act 2007: When an individual has power to enjoy income of person abroad
Text of the provision Official document
When an individual has power to enjoy income of person abroad 722 1 For the purposes of section 721, an individual is treated as having power to enjoy income of a person abroad if any of the enjoyment conditions are met.
2 In subsection (1) “ the enjoyment conditions ” means conditions A to E as specified in section 723.
3 In determining whether an individual has power to enjoy income for the purposes of section 721, regard must be had to the substantial result and effect of all the relevant transactions.
4 In making that determination all benefits which may at any time accrue to the individual as a result of the transfer and any associated operations must be taken into account, irrespective of—
a the nature or form of the benefits, or b whether the individual has legal or equitable rights in respect of the benefits.
Official source: legislation.gov.uk
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