INTM601660 | Transfer of assets abroad: The benefits charge: Benefits provided out of assets

ITA07/S732(1)(c) makes it clear that the benefit which the individual receives must be one which is provided out of assets which are available for the purpose as a result of the transfer or one or more associated operations. This effectively links the benefit with the relevant transfer.

For example, the provisions can apply where a beneficiary of a non-resident trust receives a payment out of the capital of the trust.

If the assets of the trust included a property, the provisions can also apply where a beneficiary receives a benefit by virtue of their occupation of the property on less than commercial terms.