- Latest available (Revised)
- Point in Time (06/04/2006)
- Original (As enacted)
Version Superseded: 01/04/2009
Point in time view as at 06/04/2006.
There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Cross Heading: Certain administrative provisions.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
(1)This section applies if—
(a)there is a receipt under section 277 (lease premiums) in respect of a premium which is payable by instalments, or
(b)there is a receipt under any of sections 279 to 281 (sums payable instead of rent, for surrender of lease or for variation or waiver of term of lease) in respect of a sum which is payable by instalments.
(2)The person who is liable to pay tax by reference to the receipt may choose to pay the tax by such instalments as [F1an officer of Revenue and Customs] may allow.
(3)The period over which the instalments of tax must be paid—
(a)must be 8 years or less, and
(b)must end before, or at the same time as, the time when the last of the instalments mentioned in subsection (1)(a) or (b) is payable.
Textual Amendments
F1Words in s. 299(2) substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 ss. 50, 53(1), {Sch. 4 para. 132(2)}; S.I. 2005/1126, art. 2(h)
(1)This section applies if any of the persons mentioned in subsection (3) provides [F2an officer of Revenue and Customs] with a statement showing—
(a)whether or not there is, or may be, a receipt under section 282 (assignments for profit of lease granted at undervalue), and
(b)the amount of any receipt.
(2)[F2an officer of Revenue and Customs] must certify the accuracy of the statement, if satisfied as to its accuracy.
(3)The persons referred to in subsection (1) are—
(a)the landlord who granted the lease,
(b)a person who assigned it, or
(c)a person to whom it was assigned.
Textual Amendments
F2Words in s. 300(1)(2) substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 ss. 50, 53(1), {Sch. 4 para. 132(1)}; S.I. 2005/1126, art. 2(h)
(1)This section applies if—
(a)there is a receipt under section 284 (sales with right to reconveyance), and
(b)the date on which the estate or interest would fall to be reconveyed was not fixed under the terms of the sale.
(2)If the seller makes a claim, the seller must be repaid the amount by which A exceeds B, where—
A is the amount of tax paid by the seller which was payable by virtue of section 284, and
B is the amount of tax that would have been so payable if the date on which the estate or interest was reconveyed had been taken as the date fixed by the terms of the sale.
(3)The claim must be made within 6 years after the day on which the estate or interest was reconveyed.
(1)This section applies if—
(a)there is a receipt under section 285 (sale and leaseback transactions), and
(b)the date for the grant of the lease was not fixed under the terms of the sale.
(2)If the seller makes a claim, the seller must be repaid the amount by which A exceeds B, where—
A is the amount of tax paid by the seller which was payable by virtue of section 285, and
B is the amount of tax that would have been so payable if the date on which the lease was granted had been taken as the date fixed by the terms of the sale.
(3)The claim must be made within 6 years after the day on which the lease was granted.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
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.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: