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Proceeds of Crime Act 2002
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Changes over time for: Section 319
Version Superseded: 07/10/2013
Alternative versions:
- 24/02/2003- Amendment
- 06/04/2005- Amendment
- 01/04/2008- Amendment
- 18/10/2012
Point in time - 07/10/2013- Amendment
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Proceeds of Crime Act 2002, Section 319 is up to date with all changes known to be in force on or before 11 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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319 Source of incomeU.K.
This section has no associated Explanatory Notes
(1)For the purpose of the exercise by [F1SOCA] of any function vested in [F2 it ] by virtue of this Part it is immaterial that [F3SOCA] cannot identify a source for any income.
(2)An assessment made by [F4SOCA] under section 29 of the Taxes Management Act 1970 (c. 9) (assessment where loss of tax discovered) in respect of income charged to tax under [F5Chapter 8 of Part 5 of the Income Tax (Trading and Other Income) Act 2005] must not be reduced or quashed only because it does not specify (to any extent) the source of the income.
(3)If [F6SOCA] serves on the Board a notice of withdrawal under section 317(4), any assessment made by [F7SOCA] under section 29 of the Taxes Management Act 1970 is invalid to the extent that it does not specify a source for the income.
(4)Subsections (2) and (3) apply in respect of years of assessment whenever occurring.
Textual Amendments
F1Word in s. 319(1) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), s. 94(1), Sch. 8 para. 95(2)(a); S.I. 2008/755, art. 2(1)(a) (with arts. 3-14)
F2Word in s. 319(1) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), s. 94(1), Sch. 8 para. 95(2)(b); S.I. 2008/755, art. 2(1)(a) (with arts. 3-14)
F3Word in s. 319(1) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), s. 94(1), Sch. 8 para. 95(2)(c); S.I. 2008/755, art. 2(1)(a) (with arts. 3-14)
F4Word in s. 319(2) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), s. 94(1), Sch. 8 para. 95(3); S.I. 2008/755, art. 2(1)(a) (with arts. 3-14)
F5Words in s. 319(2) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 582 (with Sch. 2)
F6Word in s. 319(3) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), s. 94(1), Sch. 8 para. 95(4)(a); S.I. 2008/755, art. 2(1)(a) (with arts. 3-14)
F7Word in s. 319(3) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), s. 94(1), Sch. 8 para. 95(4)(b); S.I. 2008/755, art. 2(1)(a) (with arts. 3-14)
Commencement Information
I1S. 319 in force at 24.2.2003 by S.I. 2003/120, art. 2, Sch. (with arts. 3, 4) (as amended (20.2.2003) by S.I. 2003/333, art. 14)
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