ÀÏ˾»úÎçÒ¹¸£Àû

I3.730 POAT and intangible property—the charge

The pre-owned assets tax (POAT) charge on intangible property is in completely different terms from the charges on land and chattels.

In order for a charge to income tax to arise with regard to intangible property, the following essential elements must be present:

1. Ìý

   (a)ÌýÌýÌýÌý a person has settled any property (not necessarily intangible property)

2. Ìý

   (b)ÌýÌýÌýÌý the terms of the settlement are such that any income arising from the property would be treated by virtue of ITTOIA 2005, s 624 as income of a person ('the chargeable person') who is for the purposes of ITTOIA 2005, ss 619–648 (Pt 5, Ch 5) the settlor¹

3. Ìý

   (c)ÌýÌýÌýÌý such income would be so treated even if ITTOIA 2005, s 625(1) did not include any reference to the spouse of the settlor², and

4. Ìý

   (d)ÌýÌýÌýÌý that property includes any intangible property ('the relevant property') which is or represents property which the chargeable person settled, or added to the settlement, after 17 March 1986³

Where