INTM600200 | Transfer of assets abroad: General conditions: Relevant transaction

The transfer of assets provisions impose a charge to income tax on individuals who have

• power to enjoy income,

• receive or are entitled to receive capital sums, or

• receive benefits

as a result of a ‘relevant transaction’.

The charges only apply if a relevant transfer occurs, and they operate by reference to the income of a person abroad that is connected with the transfer or another relevant transaction.

A relevant transaction is defined in ITA07/S715 as either

• a relevant transfer (INTM600220) or

• an associated operation (INTM600300).