Explanatory Notes

Income Tax (Trading and Other Income) Act 2005

2005 CHAPTER 5

24 March 2005

Commentary on Sections

Part 2: Trading income

Chapter 10: Trade profits: certain telecommunication rights
Section 146: Meaning of “relevant telecommunication right”

587.This section defines “relevant telecommunication right”. It is based on paragraph 1 of Schedule 23 to FA 2000.

588.To date, the only licences to which paragraph (a) applies were granted in response to the government auction of third generation mobile telephone licences in April 2000.