Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section 735AG — Deduction allowed for previous settlements charge
Deduction allowed for previous settlements charge 735AG 1 This section applies if— a benefits provided as mentioned in section 732(1)(c) are received in a tax year, and b income is treated under…
Section 736 — Exemptions: introduction
Exemptions: introduction 736 1 Sections 737 to 742 deal with exemptions from liability under this Chapter. 2 Some exemptions apply according to whether the relevant transactions are all pre-5…
Section 737 — Exemption: all relevant transactions post-4 December 2005 transactions
Exemption: all relevant transactions post-4 December 2005 transactions 737 1 This section applies if all the relevant transactions are post-4 December 2005 transactions. 2 An individual is not liable…
Section 738 — Meaning of “commercial transaction”
Meaning of “commercial transaction” 738 1 For the purposes of section 737, a relevant transaction is a commercial transaction only if it meets the conditions in subsections (2) and (3). 2 It must be…
Section 739 — Exemption: all relevant transactions pre-5 December 2005 transactions
Exemption: all relevant transactions pre-5 December 2005 transactions 739 1 This section applies if all the relevant transactions are pre-5 December 2005 transactions. 2 An individual is not liable…
Section 740 — Exemption: relevant transactions include both pre-5 December 2005 and post-4 December 2005 transactions
Exemption: relevant transactions include both pre-5 December 2005 and post-4 December 2005 transactions 740 1 This section applies if the relevant transactions include both pre-5 December…
Section 741 — Application of section 742 (partial exemption)
Application of section 742 (partial exemption) 741 1 Section 742 (partial exemption where later associated operations fail conditions) applies if— a an individual is liable to tax because of section…
Section 742 — Partial exemption where later associated operations fail conditions
Partial exemption where later associated operations fail conditions 742 1 If this section applies, the individual is liable to tax under this Chapter only in respect of part of the income for which…
Section 742A — Post-5 April 2012 transactions: exemption for genuine transactions
Post-5 April 2012 transactions: exemption for genuine transactions 742A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 742B — Value of certain benefits
Value of certain benefits 742B Sections 742C to 742E apply where it is necessary, for the purpose of calculating a charge to income tax under the preceding provisions of this Chapter, to determine…
Section 742C — Value of benefit provided by a payment by way of loan
Value of benefit provided by a payment by way of loan 742C 1 The value of the benefit provided to a person (P) by a payment by way of loan to P is, for each tax year in which the loan is outstanding,…
Section 742D — Value of benefit provided by making movable property available
Value of benefit provided by making movable property available 742D 1 The value of the benefit provided by making movable property available, without any transfer of the property in it, to a person…
Section 742E — Value of benefit provided by making land available
Value of benefit provided by making land available 742E 1 The value of the benefit provided by making land available for the use of a person (P) is, for each tax year in which the benefit is provided…
Section 743 — No duplication of charges
No duplication of charges 743 1 No amount of income may be taken into account more than once in charging income tax under this Chapter. 2 If there is a choice about the persons in relation to whom…
Section 744 — Meaning of taking income into account in charging income tax for section 743
Meaning of taking income into account in charging income tax for section 743 744 1 References in section 743 (no duplication of charges) to an amount of income taken into account in charging income…
Section 745 — Rates of tax applicable to income charged under sections 720 and 727 etc
Rates of tax applicable to income charged under sections 720 and 727 etc 745 1 Income tax at the basic rate, or the starting rate for savings when that rate is more than 0%, ... is not charged under…
Section 746 — Deductions and reliefs where individual charged under section 720 or 727
Deductions and reliefs where individual charged under section 720 or 727 746 1 This section applies for the purpose of calculating the liability to income tax of an individual charged under section…
Section 747 — Amounts corresponding to accrued income profits and related interest
Amounts corresponding to accrued income profits and related interest 747 1 This subsection applies if a person— a would have been treated as— i making qualifying accrued income profits, or ii making…
Section 748 — Power to obtain information
Power to obtain information 748 1 An officer of Revenue and Customs may by notice require any person to provide the officer with such particulars as the officer may reasonably require for the…
Section 749 — Restrictions on particulars to be provided by relevant lawyers
Restrictions on particulars to be provided by relevant lawyers 749 1 In relation to anything done by a relevant lawyer on behalf of a client who does not consent to the information otherwise required…
Section 750 — Restrictions on particulars to be provided by banks
Restrictions on particulars to be provided by banks 750 1 Section 748 does not oblige a bank to provide any particulars of any ordinary banking transactions between the bank and a customer carried…
Section 751 — The tribunal’s jurisdiction on appeals
The tribunal’s jurisdiction on appeals 751 On any appeal that is notified to the tribunal, the jurisdiction of the tribunal includes jurisdiction to affirm or replace any decision taken by an officer…
Section 752 — Overview of Chapter
Overview of Chapter 752 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 753 — Meaning of disposing of land
Meaning of disposing of land 753 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 754 — Priority of other income tax provisions
Priority of other income tax provisions 754 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 755 — Charge to tax on gains from transactions in land
Charge to tax on gains from transactions in land 755 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 756 — Income treated as arising when gains obtained from some land disposals
Income treated as arising when gains obtained from some land disposals 756 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 757 — Person obtaining gain
Person obtaining gain 757 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 758 — Income charged
Income charged 758 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 759 — Person liable
Person liable 759 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 760 — Method of calculating gain
Method of calculating gain 760 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 761 — Transactions, arrangements, sales and realisations relevant for Chapter
Transactions, arrangements, sales and realisations relevant for Chapter 761 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 762 — Tracing value
Tracing value 762 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 763 — Meaning of “another person”
Meaning of “another person” 763 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 764 — Valuations and apportionments
Valuations and apportionments 764 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 765 — Exemption: gain attributable to period before intention to develop formed
Exemption: gain attributable to period before intention to develop formed 765 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 766 — Exemption: disposals of shares in companies holding land as trading stock
Exemption: disposals of shares in companies holding land as trading stock 766 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 767 — Exemption: private residences
Exemption: private residences 767 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 768 — Recovery of tax where consideration receivable by person not assessed
Recovery of tax where consideration receivable by person not assessed 768 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 769 — Recovery of tax: certificates of tax paid etc
Recovery of tax: certificates of tax paid etc 769 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 770 — Clearance procedure
Clearance procedure 770 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 771 — Power to obtain information
Power to obtain information 771 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 772 — Interpretation of Chapter
Interpretation of Chapter 772 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 773 — Overview of Chapter
Overview of Chapter 773 1 This Chapter imposes a charge to income tax— a on individuals to whom income is treated as arising under section 778 (income arising where capital amount other than…
Section 774 — Meaning of “occupation”
Meaning of “occupation” 774 In this Chapter references to an occupation, in relation to an individual, are references to any activities of a kind undertaken in a profession or vocation, regardless of…
Section 775 — Priority of other tax provisions
Priority of other tax provisions 775 This Chapter has effect subject to— a Chapter 5 of Part 5 of ITTOIA 2005 (settlements: amounts treated as income of settlor), and b any other provision of the Tax…
Section 776 — Charge to tax on sale of occupation income
Charge to tax on sale of occupation income 776 1 Income tax is charged on income treated as arising under— a section 778 (income arising where capital amount other than derivative property or right…
Section 777 — Conditions for sections 778 and 779 to apply
Conditions for sections 778 and 779 to apply 777 1 Sections 778 and 779 apply only if conditions A to C are met in respect of an individual. 2 Condition A is that the individual carries on an…
Section 778 — Income arising where capital amount other than derivative property or right obtained
Income arising where capital amount other than derivative property or right obtained 778 1 This section applies if the capital amount obtained as mentioned in section 777(5) does not consist of— a…
Section 779 — Income arising where derivative property or right obtained
Income arising where derivative property or right obtained 779 1 This section applies if— a the capital amount obtained as mentioned in section 777(5) consists of— i property which derives…