Section 244AA Overseas transfer charge: introduction

F1F2A charge to income tax, to be known as the overseas transfer charge, arises under the following sections—

(a)

section 244AC (overseas transfer charge: transfers where no exclusion applies);

(b)

section 244IA (overseas transfer charge: transfers exceeding available allowance).

Annotations

F1: Ss. 244A-244N and cross-heading inserted (with effect in accordance with Sch. 4 para. 25 of the amending Act) by Finance Act 2017 (c. 10), Sch. 4 para. 11
F2: Ss. 244AA-244AC substituted for s. 244A (for the tax year 2024-25 and subsequent tax years) by Finance Act 2024 (c. 3), Sch. 9 paras. 45, 124 (with Sch. 9 paras. 125-132A) (as amended by S.I. 2024/356, regs. 1, 4; and (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 17)