SE03132 - Removal or transfer costs: relocation companies - guaranteed sale price schemes - transfer of beneficial interest

Schedule 11A ICTA 1988

The examples of guaranteed sale price schemes (see SE03129 onwards) make it clear that the transfer of the beneficial interest in the employee's property is an important step. This is because the tax consequences may be different where the employer incurs expense after the transfer.

The time when beneficial interest passes is not always clear. In a straightforward case of purchase and sale of land the beneficial interest passes to the purchaser-

• in England and Wales when contracts are exchanged
• in Scotland on delivery of the disposition.

Submit cases of doubt or difficulty to Employment Income Technical.