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Income Tax (Trading and Other Income) Act 2005

Case III

3350.The income charged under Schedule D Case III in the source legislation is rewritten for income tax purposes in the following places in this Act:

  • Part 4 - Chapter 2 (interest), Chapter 7 (purchased life annuity payments), Chapter 8 (deeply discounted securities), Chapter 10 (distributions from unauthorised unit trusts); and

  • Part 5 - Chapter 2 (receipts from intellectual property) - but royalties only, Chapter 4 (certain telecommunication rights: non-trading income) and Chapter 7 (annual payments not otherwise charged).

3351.The corporation tax version of Schedule D Case III in section 18(3A) of ICTA will continue to work for corporation tax.

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