Income Tax Act 2007 (c. 3)

Part 17 U.K. Definitions for purposes of Act and final provisions

Definitions for the purposes of Act U.K.

1026 Meaning of “non-qualifying income” for the purposes of section 1025 U.K.

For the purposes of section 1025 an amount included in a person's total income is non-qualifying income if it is—

(a) income on which income tax is treated as paid under section 399(2) F1 ... of ITTOIA 2005 (distributions [F2 to non-UK resident persons],

F3 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(d) income on which an individual is liable to income tax as a result of section 465 of ITTOIA 2005 or trustees are so liable as a result of section 467 of that Act (gains from contracts for life insurance etc), being income to which section 530 of that Act applies (income tax treated as paid etc),

(e) income which is included in the aggregate income of an estate as a result of section 664(2)(c), (d) or (e) of ITTOIA 2005 (income arising to personal representatives and corresponding to income within paragraph (b), (c) or (d)), [F4 or]

(f) income on which income tax is treated as paid under section 685A(3) of ITTOIA 2005 (settlor-interested settlements), F5 ...

F5 (g) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Words in s. 1026(a) omitted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 63(17)(a)(i)

F2 Words in s. 1026(a) substituted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by Finance Act 2016 (c. 24), Sch. 1 para. 63(17)(a)(ii)

F3 S. 1026(b)(c) omitted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 63(17)(b)

F4 Word in s. 1026 inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 86(a) (with Sch. 9 paras. 1-9, 22)

F5 S. 1026(g) and preceding word repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 86(b), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)