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HMRC internal manual

International Manual

Transfer of assets abroad: mandatory referral to WMBC Assets, Edinburgh

Business Assets and International Technical and Valuation, Bootle is responsible for the operation of the legislation contained in Chapter 2 Part 13 ITA 2007, the provision of Technical Advice thereon and any litigation involving transfer of assets legislation.

All enquiry work involving possible application of the transfer of assets legislation is undertaken by or in conjunction with the specialist team in WMBC Assets Edinburgh.  Fraud Investigation Services and WMBC Wealthy Units also undertake review work in this area in relation to cases handled by them.

The individual Self Assessment tax return will often be the first point of identification of cases where the legislation may apply, and as such those handling receipt of returns have a vital role to play in identifying potential application of this legislation. Offices should not however attempt to determine liability to the Income Charge (INTM600020) or the Benefits Charge (INTM600030) or discuss the application of the provisions with agents without first contacting Trusts Compliance, Edinburgh. Please include reference to ‘INTM600050’ in the subject field.

Any case in which it is identified that transfer of assets does or may apply must be referred to Trusts Compliance, Edinburgh, including reference to ‘INTM600050’ in the subject field, who will arrange any necessary risk assessment of the case and advise on whether and how this aspect is to be taken forward.

WMBC (Wealthy CCM teams) and Fraud Investigation Service offices do not have to make a referral of their own cases in accordance with the previous paragraph but should consult with BAI Technical and Valuation Team, Bootle for advice as necessary, and in every case where litigation may be a possibility.

See INTM600060 for a list of factors that may indicate potential liability. This list is not intended to be exhaustive.

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)