INTM601220 - Transfer of assets abroad: The income charge: Measure of income - chargeable events

If a profit is made on a disposal by a person abroad of an insurance policy or contract, the profit arising will be regarded as income becoming payable to a person abroad for the purposes of the transfer of assets provisions.

Detailed guidance on the chargeable events regime can be found in the Insurance Policyholder Taxation Manual (IPTM).