Commentary on Sections Overview Overview Section 720: Charge to tax on income treated as arising under section 721
2140.This section imposes the charge to income tax on individuals with power to enjoy income as a result of relevant transactions and indicates the measure of income and the person liable. It is based on sections 739(1), (2) and 743(1) of ICTA. It is the first of a sequence of sections (sections 720 to 726) which deal with this charge.
2141.Subsection (5) provides that the individual to whom income is treated as arising is the person liable. This person is defined in section 721.
2142.This section also provides signposts to other sections detailing how the income charged is calculated and when exemption is due.