127 Enterprise allowance.U.K.
M1(1)This section applies to—
(a)payments known as enterprise allowance and made [F1(whether before or after the coming into force of Section 25 of the M2Employment Act 1988)] in pursuance of arrangements under section 2(2)(d) of the M3Employment and Training Act 1973; and
(b)corresponding payments made in Northern Ireland by the Department of Economic Development.
(2)Any such payment which would (apart from this section) be charged to tax under Case I or II of Schedule D shall be charged to tax under Case VI of that Schedule.
(3)Nothing in subsection (2) above shall prevent such a payment—
(a)being treated for the purposes of section 623(2)(c) or 833(4)(c) as immediately derived from the carrying on or exercise of a trade, profession or vocation; or
(b)being treated for the purposes of paragraph 1of Schedule 19as trading incomeF2.
Textual Amendments
F1Para.15 Sch.3 Employment Act 1988.Previously
“by the Manpower Services Commission”.
F2 Repealed by 1989 s.187and Sch.17 Part Vin relation to accounting periods beginning after 31March 1989.
Marginal Citations
M1Source—1986 s.41