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Income Tax (Trading and Other Income) Act 2005

Overview

2843.This Chapter provides for exemption from income tax in respect of miscellaneous income. The income exempted under this Chapter is categorised as follows:

  • interest only income;

  • interest and royalty payments;

  • income from occupation of commercial woodlands;

  • housing grants;

  • approved share incentive plan distributions;

  • foreign income of consular officers and employees;

  • income of non-UK residents of certain securities; and

  • other income.

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Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

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