Section 727 | Certain annual payments by individuals

(1)No liability to income tax arises under Part 5 in respect of an annual payment if it—

(a)is made by an individual, and

(b)arises in the United Kingdom.

(2)Subsection (1) is subject to—

section 728 (commercial payments), and

section 729 (payments for non-taxable consideration).

(3)Subsection (1) also applies to a payment made by an individual's personal representatives if—

(a)the individual would have been liable to make it, and

(b)that subsection would have applied if the individual had made it.

(4)For the purposes of subsection (1) and section 728, “individual” includes a Scottish partnership if at least one partner is an individual.