HC Deb 21 April 1936 vol 311 cc77-8

Resolved, That—

  1. (a)where any individual has by means of any transfer of assets, either alone or in conjunction with associated operations within the meaning of any enactment for giving effect to this Resolution, acquired any rights by virtue of which he has (within the meaning of the said enactment) power to enjoy, whether forthwith or in the future, any income of a person resident or domiciled out of the United Kingdom, that income shall, whether it would or would not have been otherwise chargeable to income tax, he deemed to be the income of that individual for all the purposes of the Income Tax Acts;
  2. (b)for the purpose of this Resolution references to an individual shall include the wife or husband of the individual, and references to income of a person resident or domiciled out of the United Kingdom shall include income apportioned to such a person under Section twenty-one of the Finance Act, 1922, as amended by any subsequent enactment;
  3. (c)there may be included in any Act of the present Session relating to finance such provisions as to income tax in re- 78 lation to any such transfer of assets or associated operations (being provisions which it is necessary or expedient to include for the purpose of giving effect to or supplementing the foregoing provisions of this Resolution) as Parliament may determine;
  4. (d) the provisions of this Resolution and the provisions included in any such Act as aforesaid shall apply for the purposes of assessment to income tax for the year 1935–36 and subsequent years, and shall apply in relation to transfers of assets and associated operations whether carried out before or after the date of this Resolution."