Commentary on Sections Overview Overview Section 721: Individuals with power to enjoy income as a result of relevant transactions
2143.This section describes the individual to whom income is treated as arising and the circumstances in which it is treated as arising. It is based on sections 739(1) to (2) and 742(1B) of ICTA.
2144.Sections 739(2) and (3) of ICTA indicate the person liable by using the expression “such an individual” – but do not make it clear how much of section 739(1) is implied by that expression. This section and section 728, which are based on section 739(2) and (3), reproduce the expression “such an individual”, which has been the subject of case law: see, in particular, Vestey v CIR (1979), 54 TC 503 HL(6).