Part 13Tax avoidance
Chapter 4Sales of occupation income
Charge on sale of occupation income
776Charge to tax on sale of occupation income
1
Income tax is charged on income treated as arising under—
a
section 778 (income arising where capital amount other than derivative property or right obtained), or
b
section 779 (income arising where derivative property or right obtained).
2
Tax is charged under this section on the full amount of income treated as arising in the tax year.
3
The person liable for any tax charged under this section is the individual to whom the income is treated as arising.
4
This section is subject to section 784 (exemption for sales of going concerns).