- Latest available (Revised)
- Original (As enacted)
Income Tax (Trading and Other Income) Act 2005 is up to date with all changes known to be in force on or before 17 August 2024. There are changes that may be brought into force at a future date.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the affected provisions when you open the content using the Table of Contents below.
Chapter 3 Trade profits: basic rules
Chapter 3A Trade profits: cash basis
Chapter 5 Trade profits: rules allowing deductions
61.Tenants occupying land for purposes of trade treated as incurring expenses
62.Limit on deductions if tenant entitled to mineral extraction allowance
63.Tenants dealing with land as property employed for purposes of trade
64.Restrictions on section 61 expenses: lease premium receipts
65.Restrictions on section 61 expenses: lease of part of premises
66.Corporation tax receipts under ICTA treated as taxed receipts
67.Restrictions on section 61 expenses: corporation tax receipts under ICTA
Contributions to local enterprise organisations or urban regeneration companies
Contributions to flood and coastal erosion risk management projects
CHAPTER 5A Trade profits: deductions allowable at a fixed rate
Chapter 6A Trade profits: amounts not reflecting commercial transactions
Chapter 10A Leases of plant or machinery: special rules for long funding leases
Lessors under long funding operating leases
148D.Lessor under long funding operating lease: periodic deduction
148DB.“Starting value” where plant or machinery originally unqualifying
148E.Long funding operating lease: lessor's additional expenditure
148EA.Determination of remaining residual value resulting from lessor's first additional expenditure
148EB.Determination of remaining residual value resulting from lessor's further additional expenditure
148F.Lessor under long funding operating lease: termination of lease
Lessors under long funding finance or operating leases: avoidance etc
Chapter 11A Trade profits: changes in trading stock
Chapter 12 Trade profits: valuation of stock and work in progress on cessation of trade
Chapter 16 Averaging profits of farmers and creative artists
CHAPTER 16ZA COMPENSATION FOR COMPULSORY SLAUGHTER OF ANIMALS
Chapter 18 Post-cessation receipts
Chapter 4 Profits of property businesses: lease premiums etc.
Chapter 5 Profits of property businesses: other rules about receipts and deductions
Chapter 6 Commercial letting of furnished holiday accommodation
Chapter 8 Rent receivable in connection with a UK section 12(4) concern
Chapter 10 Post-cessation receipts
Part 4 Savings and investment income
... Payment and deduction of tax
397.Tax credits for qualifying distributions of UK resident companies : UK residents and eligible non-UK residents
397A.Tax credits for distributions of non-UK resident companies: UK residents and eligible non-UK residents
397B.Tax credits under section 397A: manufactured overseas dividends
398.Increase in amount or value of dividends where tax credit available
399.Tax treated as paid on distributions received by non-UK resident persons
401.Relief: distribution repaying shares or security issued in earlier distribution
Chapter 4 Dividends from non-UK resident companies
Chapter 8 Profits from deeply discounted securities
Special rules for strips of government securities
443.Application of this Chapter to strips of government securities
445.Strips of government securities: acquisitions and disposals
447.Restriction of profits on strips by reference to original acquisition cost
448.Restriction of losses on strips by reference to original acquisition cost
449.Strips of government securities: manipulation of acquisition, transfer or redemption payments
451.Market value of strips etc. quoted in foreign stock exchange lists
Special rules for listed securities held since 26th March 2003
Chapter 9 Gains from contracts for life insurance etc.
463A.Restricted relief qualifying policies: disapplication of section 485 etc
463B.Restricted relief qualifying policies: allowable premiums
463C.Restricted relief qualifying policies: personal representatives and trustees with deceased settlors
463D.Restricted relief qualifying policies: assignments and events following assignments etc
463E.Transitional protection for policies issued in respect of insurances made on or after 21 March 2012 but before 6 April 2013
When chargeable events occur: general
485.Disregard of certain events in relation to qualifying policies
486.Exclusion of maturity of capital redemption policies in certain circumstances
488.Disregard of some events after alterations of life insurance policy terms
489.Conditions applicable to alterations of life insurance policy terms
490.Last payment under guaranteed income bonds etc. treated as total surrender
Part surrenders and assignments: periodic calculations and excess events
498.Requirement for periodic calculations in part surrender or assignment cases
502.Exception from section 501 for loans to buy life annuities
503.Exception from section 501 for certain loans under qualifying policies
504.Part surrenders: payments under guaranteed income bonds etc.
506.Assignments occurring when there is a co-ownership transaction
507.Method for making periodic calculations under section 498
509.Chargeable events in certain cases where periodic calculations show gains
Transaction-related calculations and part surrender or assignment events
510.Requirement for transaction-related calculations in certain part surrender and assignment cases
511.Method for making transaction-related calculations under section 510
513.Special rules for part surrenders and assignments in final insurance year
514.Chargeable events where transaction-related calculations show gains
Chapter 12 Disposals of futures and options involving guaranteed returns
CHAPTER 2A Offshore receipts in respect of intangible property
Charge to tax on offshore receipts in respect of intangible property
608JA.Exemption where company resident in specified territory
608K.Exemption where business undertaken within territory of residence
608MA.Exemption where income of opaque partnership taxable in full treaty territory
608MB.Exemption for certain bodies corporate that are transparent in full treaty territory
608MC.Exemption for double taxation on amounts within same control group
Chapter 4 Certain telecommunication rights: non-trading income
Chapter 5 Settlements: amounts treated as income of settlor or family
Capital sums treated as income of settlor: trustees' payments
Benefits matched with protected foreign-source income
643A.Deemed income because of benefits for settlor or close family member
643C.Meaning of “available protected income” in section 643A
643D.Reduction in section 643A income: previous capital gains tax charge
643E.Reimbursement of tax paid by settlor because of section 643A
643F.Income attributed by section 643A to user of remittance basis
643G.Section 643F(4): benefits and income “relating” to deemed income
643H.Meaning of close member of settlor's family in sections 643B to 643M
643J.Cases where income treated as arising to recipient of onward gift
643K.Cases where deemed income attributed to recipient of onward gift
643M.Onward gift to settlor or close family member by other recipient
643N.Person liable under section 643J or 643L and remittance basis applies
Chapter 6 Beneficiaries' income from estates in administration
Further provisions for calculating estate income relating to absolute interests
PART 6A Income charged under this Act: trading and property allowances
Part 7 Income charged under this Act: rent-a-room and qualifying care relief
SCHEDULES
Part 1 Income and Corporation Taxes Act 1988
5.In section 4 (construction of references in Income Tax Acts...
11.Omit section 21 (persons chargeable and basis of assessment under...
12.(1) Amend section 21A (computation of amount chargeable under Schedule...
13.In section 21B (application of other rules applicable to Case...
14.In section 21C (the Schedule A charge and mutual business)—...
15.(1) Amend section 30 (expenditure on making sea walls) as...
16.Omit sections 31A and 31B (deductions for expenditure by landlords...
32.(1) Amend section 53 (farming and other commercial occupation of...
33.In section 55(1) (mines, quarries and other concerns) after “charged...
34.(1) Amend section 56 (transactions in deposits with and without...
35.(1) Amend section 59 (persons chargeable: Schedule D) as follows....
36.Omit sections 60 to 63A (basis of assessment for income...
40.Omit section 68 (special rules where property etc. situated in...
43.Omit section 71 (computation of income tax where no profits...
45.In section 74(1) (general rules as to deductions not allowable)—...
47.Omit section 77 (incidental costs of obtaining loan finance).
51.Omit section 80 (expenses connected with foreign trades etc).
54.In section 82A(1) (expenditure on research and development)—
55.In section 82B(1) (payments to research associations, universities etc.)—
56.In section 83 (patent fees etc. and expenses) after “the...
57.(1) Amend section 83A (gifts in kind to charities etc.)...
58.(1) Amend section 84 (gifts to educational establishments) as follows....
61.In section 86A (charitable donations: contributions to agent's expenses) —...
75.Omit section 95A (creative artists: relief for fluctuating profits).
76.Omit section 96 (farming and market gardening: relief for fluctuating...
86.Omit section 107 (treatment of receipts as earned income).
88.Omit section 109 (charge under section 104: relief for individuals...
89.(1) Amend section 109A (relief for post-cessation expenditure) as follows....
91.Omit section 110A (change of residence) and the italic cross-heading...
103.In section 119(1) (rent etc. payable in connection with mines,...
104.In section 120 (rent etc. payable in respect of electric...
105.In section 121 (management expenses of owner or mineral rights)...
106.(1) Amend section 122 (relief in respect of mineral royalties)...
109.Omit section 127A (futures and options: transactions with guaranteed returns)....
110.In section 128 (commodity and financial futures etc: losses and...
116.In section 231B(4)(b) (consequences of certain arrangements to pass on...
118.Omit section 233 (taxation of certain recipients of distributions and...
121.In section 251 (interpretation of sections 249 and 250), omit...
122.Omit sections 251A to 251D (approved share incentive plans).
123.In section 271(1)(a) (deemed surrender in cases of certain loans)...
130.Omit section 324 (designated international organisations).
131.Omit section 325 (interest on deposits with National Savings Bank)....
132.Omit section 326 (interest etc. under contractual savings schemes).
133.Omit sections 326A to 326D (tax-exempt special savings accounts).
134.Omit section 327 (disabled person's vehicle maintenance grant).
136.Omit sections 329 to 329AB (exemption of interest on damages...
138.Omit section 331A (student loans: certain interest to be disregarded)....
139.Omit section 332(3) (expenditure and houses of ministers of religion)....
140.In section 332A (venture capital trusts: reliefs) omit “and distributions...
141.For section 333 substitute— Investment plan regulations Regulations under Chapter 3 of Part 6 of ITTOIA 2005...
142.Omit section 333A (personal equity plans: tax representatives).
145.(1) Amend section 337 (company beginning or ceasing to carry...
146.(1) Amend section 347A (general rule: annual payments) as follows....
152.In section 353(1) (relief for payments of interest) after “sections...
155.In section 370(2)(b) (relevant loan interest) for the words from...
158.In section 382(3) (provisions supplementary to sections 380 and 381)...
161.In section 385(4) (carry-forward against subsequent profits) omit “under Case...
162.In section 386(1) (carry-forward where business transferred to a company)...
170.In section 398 (loss relief for transactions in deposits with...
176.In section 431D(3)(b) (meaning of “overseas life assurance business”) after...
177.In section 434 (franked investment income etc.) omit subsection (1A)....
178.(1) Amend section 437 (general annuity business) as follows.
179.(1) Section 468J (dividend distributions of authorised unit trusts) is...
180.(1) Section 468L (interest distributions of authorised unit trusts) is...
184.(1) Amend section 477A (building societies: regulations for deduction of...
185.Omit section 480C (relevant deposits: computation of tax on interest)....
188.(1) Section 486 (industrial and provident societies and co-operative associations)...
196.(1) Amend section 504 (meaning of the “commercial letting of...
200.Omit section 514 (funds for reducing the national debt).
204.In section 527(4) (spreading of royalties over several years) at...
206.Omit section 529 (patent income to be earned income in...
222.(1) Amend section 552 (information: duty of insurers) as follows....
223.In section 552ZA(3) (information: supplementary provisions) after “section 546C(7)(a)” insert...
224.(1) Amend section 552A (tax representatives) as follows.
225.In section 552B (duties of overseas insurers' tax representatives) after...
229.Omit section 554 (borrowings on life policies to be treated...
232.In section 568(1) (deductions from profits of contributions paid under...
233.In section 570(4) (payments under certified schemes which are not...
237.In section 578(1) (housing grants) for “any tax purpose” substitute...
240.Omit sections 580A to 580C (relief from tax on annual...
241.Omit section 581 (borrowing in foreign currency by local authorities...
246.Omit section 585 (relief from tax on delayed remittances).
252.(1) Amend section 591C (cessation of approval: tax on certain...
253.(1) Amend section 592 (exempt approved schemes) as follows.
254.(1) Amend section 598 (charge to tax: repayment of employee's...
255.(1) Amend section 599 (charge to tax: commutation of entire...
256.In section 599A (charge to tax: payments out of surplus...
257.In section 601(5)(b) (charge to tax: payments to employers) for...
258.In section 602(1)(a) (regulations relating to pension fund surpluses) omit...
259.(1) Amend section 607 (pilots' benefit fund) as follows.
260.In section 608(2) (superannuation funds approved before 6th April 1980)—...
261.In section 614(2A) (exemptions and reliefs in respect of income...
266.(1) Amend section 648B (return of contributions after pension date)...
267.(1) Amend section 650A (charge on withdrawal of approval from...
271.Omit sections 660A and 660B (income arising under settlement where...
272.(1) Amend section 660C (nature of charge on settlor) as...
273.Omit sections 660D to 660G (settlements: supplementary provisions etc.).
274.Omit section 677 (sums paid to settlor otherwise than as...
275.Omit section 678 (capital sums paid by body connected with...
276.Omit sections 682 and 682A (ascertainment of undistributed income and...
279.Omit section 688 (schemes for employees and directors to acquire...
289.Omit section 699 (relief from higher rate tax for inheritance...
310.In section 774(1) (transactions between dealing company and associated company)—...
324.In section 806K(2) (application of foreign dividend provisions to branches...
326.In section 812(1) (withdrawal of right to tax credit of...
330.In section 821(1) (under-deductions from payments made before passing of...
331.(1) Section 824 (repayment supplements: individuals and others) is amended...
334.(1) Amend section 828 (orders and regulations made by the...
336.In section 831(3) (interpretation of ICTA) after the entry relating...
342.Omit Schedule 4A (creative artists: relief for fluctuating profits).
343.(1) Amend Schedule 5 (treatment of farm animals etc for...
344.Omit Schedule 5AA (guaranteed returns on transactions in futures and...
346.(1) Amend Schedule 15B (venture capital trusts: relief from income...
348.(1) Amend Schedule 22 (reduction of pension fund surpluses) as...
349.In paragraph 11A(4) of Schedule 24 (assumptions for calculating chargeable...
352.(1) Amend Schedule 30 (transitional provisions and savings) as follows....
Taxes Management Act 1970 (c. 9)
358.(1) Amend section 7 (notice of liability to income tax...
359.In section 8(1AA)(b) (personal returns) for “section 231 of the...
360.In section 8A(1AA)(b) (trustee's returns) for “section 231 of the...
362.Omit section 9D (choice between different Cases of Schedule D)....
363.In section 12AA(1A)(b) (partnership returns) for “section 231 of the...
364.In section 12AB(5) (partnership return to include partnership statement) in...
365.In section 12AE(2) (choice between different Cases of Schedule D)...
366.(1) Amend section 18 (interest paid without deduction of income...
367.(1) Amend section 19 (information for purposes of Schedule A)...
368.In section 27(2) (settled property) for “section 660G(1) and (2)...
369.In section 30 (recovery of overpayment of tax, etc.) omit...
370.In section 30A(2) (assessing procedure) for “Schedule” substitute “ Part...
371.In section 31(3) (appeals: right of appeal) omit “9D or”....
372.In section 42(7) (procedure for making claims etc.) omit the...
373.(1) Amend section 46B (questions to be determined by Special...
374.In section 46C (jurisdiction of Special Commissioners over certain claims...
375.In section 58(3)(b) (proceedings in tax cases in Northern Ireland)...
376.In section 59A(8)(b) (payments on account of income tax) for...
377.(1) Amend section 59B (payment of income tax and capital...
378.In section 90(1)(b) (disallowance of relief for interest on tax)...
380.In section 118(1) (interpretation) after the definition of “ITEPA 2003”...
381.In Schedule 1A (claims etc. not included in returns), in...
382.(1) Amend Schedule 1B (claims for relief involving two or...
383.In paragraph 10 of Schedule 3 (rules for assigning proceedings...
384.In paragraph 2(4) of Schedule 3A (electronic lodgement of tax...
401.(1) Amend section 38 (maintenance payments under existing obligations: 1989-90...
402.In section 73(2) (consideration for certain restrictive undertakings)—
403.In Schedule 6 (commercial woodlands) in paragraph 3(2) for “person”...
404.In Schedule 12 (building societies: change of status) for paragraph...
407.In section 68(2) (principal charges to tax: employee share ownership...
409.(1) Amend section 76 (non-approved retirement benefits schemes) as follows....
411.In section 151(2) (assessment of trustees etc) in each of...
412.In paragraph 1 of Schedule 12 (close companies: administrative provisions)—...
Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7)
Taxation of Chargeable Gains Act 1992 (c. 12)
426.The Taxation of Chargeable Gains Act 1992 is amended as...
428.(1) Amend section 6 (rates of capital gains tax: special...
429.In section 12(2) (foreign assets of person with foreign domicile)...
430.In section 41(4) (restriction of losses by reference to capital...
432.In section 97(7) (supplementary provisions) for “section 660G(1) and (2)...
433.(1) Amend section 117 (meaning of qualifying corporate bond) as...
434.(1) Amend section 142 (capital gains on stock dividends) as...
436.In section 151 (personal equity plans) for subsections (2) and...
437.In section 151A(6) (venture capital trusts: reliefs) for the words...
438.After section 151B insert— Strips: manipulation of price: associated payment...
439.In section 156(4) (assets of Class 1) after “Taxes Act”...
440.In section 198(5)(b) (replacement of business assets used in connection...
441.(1) Amend section 241 (furnished holiday lettings) as follows.
442.In section 251(8)(b) (general provisions concerning debts) for “relevant discounted...
443.In section 254(1)(c) (definition of “a qualifying loan” for relief...
444.After section 261 insert— Know-how Disposal of know-how as part...
445.(1) Amend section 271 (miscellaneous exemptions) as follows.
446.In section 286(3) (connected persons: interpretation) for “Chapter 1A of...
448.In Schedule A1 (application of taper relief), in paragraph 17(6),...
449.In Schedule 1 (application of exempt amount and reporting limits...
450.In paragraph 13(7)(h) of Schedule 5B (enterprise investment scheme: re-investment)—...
Finance (No. 2) Act 1992 (c. 48)
453.(1) Amend section 40A (revenue nature of expenditure on master...
454.(1) Amend section 40B (allocation of expenditure to periods) as...
455.In section 40C(1) (cases where section 40B does not apply)...
456.(1) Amend section 40D (election for sections 40A and 40B...
457.(1) Amend section 41 (relief for preliminary expenditure) as follows....
458.(1) Amend section 42 (relief for production or acquisition expenditure)...
459.In section 43(1) after the definition of “expenditure of a...
463.In section 112(7) (employers' pension contributions) in the definition of...
464.(1) Amend section 171 (Lloyd's underwriters etc: taxation of income...
465.In paragraph 13(4) of Schedule 19 (Lloyd's underwriters etc: repayment...
466.(1) Amend Schedule 20A (Lloyd's underwriters: conversion to limited liability...
477.In section 73(1)(a) (venture capital trusts: regulations) after “1992” insert...
478.In section 123 (prevention of exploitation of transitional provisions) for...
479.(1) Amend section 126 ( UK representatives of non-residents) as...
480.In section 128(3) (limit on income chargeable on non-residents: income...
481.(1) Amend section 154 (short rotation coppice) as follows.
482.In section 157(7) (certificates of tax deposit) for “Case III...
483.In paragraph 3(4) of Schedule 18 (deceased persons' estates) after...
484.(1) Amend Schedule 22 (prevention of exploitation of transitional provisions...
486.In section 92(1) (convertible securities etc : creditor relationships) for...
487.Omit section 102 (discounted securities: income tax provisions).
489.(1) Amend Schedule 9 (loan provisions: special computational provisions) as...
490.Omit Schedule 13 (discounted securities: income tax provisions).
491.(1) Amend Schedule 15 (loan relationships: savings and transitional provisions)...
500.In section 42 (computation of profits of trade, profession or...
501.Omit section 43 (barristers and advocates in early years of...
502.(1) Amend section 46 (minor and consequential provisions about computations)...
503.In section 76(3) (power to make regulations for non-UK residents...
504.In section 123(7)— (a) for “both” substitute “ more ”,...
512.(1) Amend section 44 (gifts to charity from certain trusts)...
514.(1) Amend section 46 (exemption for small trades etc. )...
515.Omit section 84 (exemption of payments under New Deal 50plus)....
516.Omit section 85 (exemption of payments under Employment Zones programmes)....
517.Omit section 87 (treatment of certain telecommunication rights).
518.In section 143(2) (power to provide incentives to use electronic...
519.In section 155 (interpretation) at the end insert “ and...
520.In Schedule 12 (provision of services through an intermediary), in...
521.In Schedule 15 (the corporate venturing scheme), in paragraph 99(3),...
522.In Schedule 22 (tonnage tax), in paragraph 144(3), for “Chapter...
523.Omit Schedule 23 (treatment of certain telecommunication rights).
Capital Allowances Act 2001 (c. 2)
525.In section 4 (capital expenditure) for subsection (5) substitute—
526.(1) Amend section 15 (qualifying activities) as follows.
527.(1) Amend section 16 (ordinary Schedule A businesses) as follows....
528.(1) Amend section 17 (furnished holiday lettings businesses) as follows....
529.In section 20(1) (employments and offices) for “section 314 of...
530.In section 23(2) (expenditure unaffected by sections 21 and 22)...
531.In section 28(2) (thermal insulation of industrial buildings) for “Schedule...
532.In section 33(8)(b) (personal security) for “Schedule A” substitute “...
533.In section 35(1)(a) (expenditure on plant or machinery for use...
535.(1) Amend section 63 (cases in which disposal value is...
536.(1) Amend section 106 (the designated period) as follows.
537.(1) Amend section 108 (effect of disposal to connected person...
538.(1) Amend section 112 (excess allowances: connected persons) as follows....
539.(1) Amend section 115 (prohibited allowances: connected persons) as follows....
540.(1) Amend section 122 (short-term leasing by buyer, lessee etc)...
541.(1) Amend section 125 (other qualifying purposes) as follows.
542.In section 154(3) (further registration requirement) for paragraph (b) substitute—...
543.In section 155(1) (changes in the persons carrying on qualifying...
544.In section 156 (connected persons) for subsection (2) substitute—
545.In section 162(2) (ring fence trade a separate qualifying activity)—...
548.In section 258(4) (special leasing: income tax) for “taxed under...
549.(1) Amend section 263 (qualifying activities carried on in partnership)...
550.(1) Amend section 265 (successions: general) as follows.
551.In 268(1) (successions by beneficiaries) for paragraph (b) and the...
552.In section 282 (buildings outside the United Kingdom) for “applicable...
553.In section 326(1) (interpretation of section 325) in the definition...
554.In section 331(1)(b) (capital value provisions: interpretation)—
555.(1) Amend section 353 (lessors and licensors) as follows.
556.(1) Amend section 354 (buildings temporarily out of use) as...
557.In section 390(1) (interpretation of section 389) in the definition...
558.(1) Amend section 392 (Schedule A businesses) as follows.
559.In section 393B(4) (meaning of “qualifying expenditure”) after “the profits...
560.(1) Amend section 393T (giving effect to allowances and charges)...
561.(1) Amend section 406 (reduction where premium relief previously allowed)...
562.In section 454(1)(c) (qualifying expenditure) after “an election under” insert...
563.In section 455(4) (excluded expenditure) after “goodwill under” insert “...
564.In section 462(3) (disposal values) after “goodwill under” insert “...
565.In section 479(4) (persons having qualifying non-trade expenditure: income tax)...
566.In section 481(5)(b) (anti-avoidance: limit on qualifying expenditure) after “in...
567.In section 483(c) (meaning of “income from patents”) after “payable...
568.In section 488(3)(a) (balancing allowances) for “section 113(1)” to “to...
569.(1) Amend section 529 (giving effect to allowances and charges)...
570.In section 536(5)(a) (contributions not made by public bodies and...
571.In section 558(1)(c) (effect of partnership changes) for the words...
572.(1) Amend section 559 (effect of successions) as follows.
573.In section 577(1) (definitions) in the definition of “property business”...
574.(1) Amend Schedule 1 (abbreviations and defined expressions) as follows....
Income Tax (Earnings and Pensions) Act 2003 (c. 1)
584.The Income Tax (Earnings and Pensions) Act 2003 is amended...
585.In section 6(5) (exception to charge to tax on employment...
586.In section 61(1) (application of provisions to workers under arrangements...
587.In section 178 (exception for loans where interest qualifies for...
588.In section 180(5) (threshold for benefit of loan to be...
589.In section 189(3)(a) (exception where double charge) for “section 677...
590.In section 215 for “section 331(1) of ICTA” substitute “...
591.In section 302(4) (exemption of consular employees' employment income), in...
592.After section 325 insert— Health and employment insurance payments (1) No liability to income tax in respect of employment...
593.In section 357(2) (business entertainment and gifts: exception where employer's...
595.In section 394(2) (charge on benefit to which Chapter 2...
596.In section 397(1) (certain lump sums: calculation of amount taxed...
597.In section 399(1)(b) (employment-related loans: interest treated as paid) omit...
598.In section 476 (charge on occurrence of chargeable event) for...
599.In section 477(7) (chargeable events) for “(charge under Case VI...
600.(1) Amend section 493 (no charge on acquisition of dividend...
601.For section 496 (no charge on cash dividend retained for...
602.In section 497(3) (limitations on charges on shares ceasing to...
603.In section 502(4)(a) (meaning of “capital receipt” in section 501)...
604.(1) Amend section 515 (tax advantages and charges under other...
605.In section 516(4) (approved SAYE option schemes), in the definition...
606.(1) Amend section 575 (taxable pension income: foreign pensions) as...
607.(1) Amend section 613 (taxable pension income: foreign annuities) as...
608.(1) Amend section 631 (taxable pension income: pre-1973 pensions paid...
609.(1) Amend section 635 (taxable pension income: foreign voluntary annual...
610.After section 644 insert— Health and employment insurance payments (1) No liability to income tax arises in respect of...
611.After section 646 insert— Foreign pensions of consular employees (1) No liability to income tax arises in respect of...
612.In section 655(2) (structure of Part 10) for the entries...
613.(1) Amend section 679 (taxable social security income: foreign benefits)...
614.After section 681 insert— Foreign benefits of consular employees (1) No liability to income tax arises in respect of...
615.After section 716 (alteration of amounts by Treasury order) insert—...
616.(1) Amend Schedule 1 (abbreviations and defined expressions) as follows....
617.(1) Amend Schedule 2 (approved share incentive plans) as follows....
618.(1) Amend Schedule 3 (approved SAYE option schemes) as follows....
619.In Schedule 4 (approved CSOP schemes), in paragraph 12(3), for...
620.(1) Amend Schedule 5 (enterprise management incentives) as follows.
630.In section 71(3)(b) (collection and recovery of sums to be...
631.Omit section 97 (exemption from income tax for certain interest...
632.Omit section 98 (exemption from income tax for certain interest...
633.Omit section 99 (permanent establishments and “25% associates”).
634.Omit section 100 (interest payments: exemption notices).
635.(1) Amend section 101 (payment of royalties without deduction at...
636.In section 102 (claim for tax deducted at source from...
640.In section 119(4) (individuals benefited by film relief) for “,...
641.In section 123(1) (meaning of “film-related loss”) for “any of...
642.In section 127(2) (losses derived from exploiting licence: individuals in...
643.(1) Amend section 130 (“A significant amount of time”) as...
644.In section 186(1)(b) (scheme investments: income) for “which would” to...
645.(1) Amend section 189(2) (meaning of “relevant UK earnings”) as...
646.In section 196(2) (relief for employers in respect of contributions...
647.In section 197(10)(a) (spreading relief) after “charged under” insert “...
648.In section 199(2)(a) (deemed contributions) at the beginning insert “...
649.In section 200(a) (no other relief for employers in connection...
650.(1) Amend section 246 (restriction of deduction for non-contributory provision)...
651.(1) Amend section 249 of FA 2004 (amendments of ITEPA...
652.In section 280(1) (abbreviations and general index for Part 4)...
653.(1) Amend Schedule 15 (charge to income tax on benefit...
655.In paragraph 12 of Schedule 35 (pension schemes etc: minor...
656.(1) Amend Schedule 36 (pension schemes etc: transitional provisions and...
Transitionals and savings etc.
Dealers in securities etc: taxation of amounts taken to reserves
Apportionment of profits or losses to tax years before tax year 2005-06
Treatment of business start-up payments received in an overlap period
Profits of mines, quarries and other concerns not chargeable by reference to a basis period
Overlap profit: pre-April 1994 trades, professions and vocations
Apportionment of profits or losses to tax years before tax year 2005-06
Lease premiums: assignments for profit of lease granted at undervalue
Lease premiums: pre-commencement receipts treated as taxed receipts
Lease premiums: taking account of reductions in pre-commencement receipts
Lease premiums: taking account of deductions for rent as a result of section 37(4) or 87(2) of ICTA
Lease premiums: rules for determining effective duration of lease
Part 5 Savings and investment income: general
Stock dividends issued in respect of shares issued before 6 April 1975
Deeply discounted securities issued in accordance with qualifying earn-out right
Deeply discounted securities: deemed transfers of strips on 5th April
Deeply discounted securities: restriction of profits and losses on strips
Deeply discounted securities: saving for pension trustees' losses
Exclusion of deeply discounted securities from section 711 to 728 of ICTA (accrued income profits)
Gains from contracts for life insurance etc: foreign policies of life insurance
Gains from contracts for life insurance etc: exclusion of pension policies
Gains from contracts for life insurance etc: rights partially assigned
Gains from contracts for life insurance etc: pure protection group life policies
Gains from contracts for life insurance etc: assessment of trustees etc
Disposals of futures and options involving guaranteed returns: rates of tax for pension trustees
Part 6 Savings and investment income: insurance contracts and policies made before certain dates
Pre-20th March 1968 policies and contracts excluded from Chapter 9 of Part 4
Pre-27th March 1974 policies and contracts: disapplication of section 500(c)
Pre-27th March 1974 contracts: disapplication of section 531(3)(c)
Pre-10th December 1974 contracts for a life annuity: disapplication of section 484(1)(d)
Pre-14th March 1975 policies and contracts: calculation of gains under section 507
Pre-25th March 1982 replacement policies: disapplication of section 542
Certain pre-26th June 1982 policies and contracts excluded from Chapter 9 of Part 4
Certain pre-18th November 1983 policies not foreign policies of life insurance
Certain pre-23rd February 1984 policies not foreign capital redemption policies
Certain pre-20th March 1985 policies: application of section 529(1)
Pre-14th March 1989 qualifying policies: application of section 485(2)(b) and (3)(b)
Pre-14th March 1989 policies and contracts: application of section 501
Certain pre-17th March 1998 policies: application of section 529(1)
Certain pre-17th March 1998 policies not foreign policies of life insurance
Pre-17th March 1998 policy or contract: UK resident trustees
Certain pre-23rd March 1999 policies not foreign capital redemption policies
Pre-3rd March 2004 policy or contract: calculation of deficiencies
Pre-1st January 2005 contracts for immediate needs annuities: income tax treated as paid
Income treated as income of settlor: exception for pension income
Amounts treated as income of settlor: income paid to unmarried minor children of settlor
Amounts treated as income of settlor: capital sums paid to settlor by trustees of settlement
Amounts treated as income of settlor: capital sums paid to settlor by body connected with settlement
Beneficiaries' income from estates in administration: basic amounts
Beneficiaries' income from estates in administration: income treated as bearing income tax
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