Section 731 — Income Tax Act 2007: Charge to tax on income treated as arising under section 732

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 ).