Income Tax (Trading and Other Income) Act 2005

The Act

21. The Act has 886 sections and 4 Schedules.

22. The sections are arranged as follows:

• Part 1: Overview sets out what is covered in the Act and where to find abbreviations and definitions.

• Part 2: Trading income

• Part 3: Property income

• Part 4: Savings and investment income

• Part 5: Miscellaneous income

• Part 6: Exempt income

• Part 7: Income charged under this Act: rent-a-room and foster-care relief

• Part 8: Foreign income: special rules

• Part 9: Partnerships

• Part 10: General provisions

23. The Schedules are:

• Schedule 1: Consequential amendments

• Schedule 2: Transitionals and savings etc.

• Schedule 3: Repeals and revocations

• Schedule 4: Abbreviations and defined expressions

24. Tables of Origins and Destinations have also been prepared. The Table of Destinations shows the destination not only of repealed provisions but of all provisions rewritten in the Act.

Glossary

25. The commentary uses a number of abbreviations. They are listed below.

CAA	the Capital Allowances Act 2001
ESC	Extra-statutory concession
FA 1971	Finance Act 1971 (and similarly FA 1985 and so on)
F(No 2)A	Finance (No 2) Act
ICTA	the Income and Corporation Taxes Act 1988
ICTA 1970	the Income and Corporation Taxes Act 1970
ITA 1918	the Income Tax Act 1918 (and similarly ITA 1945)
ITEPA	the Income Tax (Earnings and Pensions) Act 2003
TCGA	the Taxation of Chargeable Gains Act 1992
TMA	the Taxes Management Act 1970
VAT	value added tax