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).