[F121 Persons chargeable and basis of assessment.U.K.
(1)Income tax under Schedule A shall be charged on and paid by the persons receiving or entitled to the income in respect of which the tax is directed by the Income Tax Acts to be charged.
(2)Income tax under Schedule A is charged on the full amount of the profits arising in the year of assessment.
(3)This section does not apply for the purposes of corporation tax.]
Textual Amendments
F1Ss. 21-21B substituted (with effect as mentioned in s. 38(2)(3) of the amending Act) for s. 21 by Finance Act 1998 (c. 36), s. 38(1), Sch. 5 para. 4 (with Sch. 5 paras. 73, 76)