Income Tax (Trading and Other Income) Act 2005

Part 2 U.K. Index of expressions defined in this Act etc.

absolute interest (for the purposes of Chapter 6 of Part 5)	section 650(1)
accounting date (in Chapter 15 of Part 2)	section 197
accounting period	sections 12 and 834(1) of ICTA
acquisition expenditure (in Chapter 9 of Part 2)	section 130(3)
adjustment expense (in Chapter 17 of Part 2)	section 228(3)
adjustment expense (in Chapter 7 of Part 3)	section 330(3)
adjustment income (in Chapter 17 of Part 2)	section 228(2)
adjustment income (in Chapter 7 of Part 3)	section 330(2)
the administration period (in Chapter 6 of Part 5)	section 653(1)
the aggregate income of the estate (for the purposes of Chapter 6 of Part 5)	section 664(1)
the amount of premiums paid (in Chapter 9 of Part 4)	section 545(3)
animal (in Chapter 8 of Part 2)	section 112(1)
animal being added to a herd (in Chapter 8 of Part 2)	section 112(6)
animals in a herd or part of a herd (for the purposes of Chapter 8 of Part 2)	section 112(3) to (5)
assignment (in the application of the Act to Scotland)	section 879(1)
assignment (of part or share in rights under a policy or contract) (in Chapter 9 of Part 4)	section 505(2)
assignment (of whole of rights under a policy or contract) (in Chapter 9 of Part 4)	section 505(2)
assumed income entitlement (for the purposes of Chapter 6 of Part 5)	section 665(2), (3)
authorised unit trust	section 832(1) of ICTA
averaging claim (in Chapter 16 of Part 2)	section 221(1)
bank arrangement (in Chapter 4 of Part 6)	section 704(4)(a)
the basic amount (in relation to estate income) (in Chapter 6 of Part 5)	section 656(4)
basic rate	section 832(1) of ICTA
basic relieving amount by reference to a taxed receipt (in Chapter 4 of Part 3)	sections 288(4), 289(2), (4)
F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
body of persons	section 832(1) of ICTA
building society	section 832(1) of ICTA
building society arrangement (in Chapter 4 of Part 6)	section 704(5)(a)
calculation event (in Chapter 9 of Part 4)	section 491(4)
capital allowance	section 832(1) of ICTA
capital cost of patent rights (in Chapter 2 of Part 5)	section 588(4)
capital redemption policy (in Chapter 9 of Part 4)	section 473(2)
capital sums (in Chapter 2 of Part 5)	section 608
capital sums included in the proceeds of sale (in relation to the exchange of property) (in Chapter 2 of Part 5)	section 605(5)
caravan	section 875
certified master version (in Chapter 9 of Part 2)	section 132(3)
certified SAYE savings arrangement (in Chapter 4 of Part 6)	section 703(1)
chargeable event (in Chapter 9 of Part 4)	section 484
chargeable period	section 832(1) of ICTA
charitable trust (in Chapter 9 of Part 4)	section 545(1)
charity	section 878(1)
child	section 832(5) of ICTA
claim	section 878(3)
close company	sections 414 and 415 of ICTA
commercial letting of furnished holiday accommodation (for purposes of Chapter 6 of Part 3)	sections 323 to 326
company	section 832(1) of ICTA
company (for all purposes in the Income Tax Acts)	section 863(2)(c)
connected (in the context of “connected person” or one person being “connected” with another)	section 839 of ICTA (see section 878(5) of this Act)
consideration received for disposal of know-how (for purposes of Chapter 14 of Part 2)	section 192(3), (4)
contract of insurance (in Chapter 9 of Part 4)	section 545(1)
control (in relation to a body corporate)	section 840 of ICTA (see section 878(6) of this Act)
[F2 conversion of an interest-bearing corporate security into corporate strips of the security (for the purposes of Chapter 8 of Part 4)	sections 452C and 452D]
[F3 corporate strip (for the purposes of Chapter 8 of Part 4)	section 452E]
corporation tax receipt (in Chapter 4 of Part 3)	section 296(1)
coupons (in Chapter 13 of Part 4)	section 571(3)
deeply discounted security (for the purposes of Chapter 8 of Part 4)	sections 430 to 443(1)
deposit rights (in Chapter 11 of Part 4)	section 552
discretionary interest (for the purposes of Chapter 6 of Part 5)	section 650(3)
disposal of a deeply discounted security (in Chapter 8 of Part 4)	section 437(1)
distribution	section 832(1) of ICTA
the dividend ordinary rate	section 832(1) of ICTA
the dividend trust rate	section 832(1) of ICTA
the dividend upper rate	section 832(1) of ICTA
dividends (in Chapter 3 of Part 4)	section 382(4)
dividends (in Chapter 4 of Part 4)	section 402(4)
election	section 878(3)
employment income	section 7(2) of ITEPA 2003
estate (in Chapter 6 of Part 5)	section 649(2)
estate income (in Chapter 6 of Part 5)	section 649(2)
estate in land (in relation to any land in Scotland)	section 832(1) of ICTA
European authorised institution (in Chapter 4 of Part 6)	section 704(6)
European authorised institution arrangement (in Chapter 4 of Part 6)	section 704(6)
excess event (in Chapter 9 of Part 4)	section 491(4)
excluded indexed security (in Chapter 8 of Part 4)	section 433(1)
the exemption condition (in Chapter 6 of Part 6)	section 713(3)
farmers (in Chapter 8 of Part 2)	section 111(3)
farming	section 876
film (in Chapter 9 of Part 2)	section 131
final insurance year (in Chapter 9 of Part 4)	section 499(4), (5)
the final tax year (in Chapter 6 of Part 5)	section 653(3)
firm	sections 847(1) and 863
firm (for all purposes in the Income Tax Acts)	section 863(2)(a)
for accounting purposes	section 832(1) of ICTA
foreign capital redemption policy (in Chapter 9 of Part 4)	section 476(3)
foreign estate (in Chapter 6 of Part 5)	section 651(1)
foreign holdings (in Chapter 13 of Part 4)	section 571(1)
foreign institution (in Chapter 9 of Part 4)	section 468(5)
foreign policy of life insurance (in Chapter 9 of Part 4)	section 476(3)
forestry	section 876(3)
foster-care receipts (in Chapter 2 of Part 7)	section 805
foster-care relief (in Chapter 2 of Part 7)	section 803(1)
FOTRA security (in Chapter 6 of Part 6)	section 713(2)
friendly society (in Chapter 9 of Part 4)	section 545(1)
future (in Chapter 12 of Part 4)	section 558(1)
generally accepted accounting practice	section 832(1) of ICTA and section 50 of FA 2004
generating income from land (in Chapter 3 of Part 3)	sections 266 and 267
gilt-edged security	section 153(1)
grossing up	section 877
group life policy (in Chapter 9 of Part 4)	section 480(2)
herd (in Chapter 8 of Part 2)	section 112(1)
herd basis election (in Chapter 8 of Part 2)	section 111(1)
herd basis rules (in Chapter 8 of Part 2)	section 111(2)
higher rate	section 832(1) of ICTA
houseboat	section 878(1)
income	section 878(1)
income arising under a settlement (in Chapter 5 of Part 5)	section 648
income arising under the settlement (in relation to a settlor) (in Chapter 5 of Part 5)	section 644(3)(b)
income period (in Chapter 2 of Part 7)	section 805(2) and (3)
individual's limit (in Chapter 1 of Part 7)	section 789
individual's limit (in Chapter 2 of Part 7)	section 808
F4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	F4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
institutional arrangement (in Chapter 4 of Part 6)	section 704(3)
insurance company (in Chapter 9 of Part 4)	section 545(1)
insurance year (in Chapter 9 of Part 4)	section 499(1), (3), (5)
interest	section 832(1) of ICTA
interest (in Chapter 4 of Part 6)	section 702(4)
international accounting standards	section 832(1) of ICTA and section 50(2) of FA 2004
[F5 interest-bearing corporate security (for the purposes of Chapter 8 of Part 4)	section 452B]
investment plan regulations (in Chapter 3 of Part 6)	section 694(2)
investment trust	section 842 of ICTA
keeping a production herd (in Chapter 8 of Part 2)	section 111(4)
know-how (in Chapter 14 of Part 2)	section 192(1), (2)
know-how (in Chapter 2 of Part 5)	section 583(4), (5)
lease (in Part 3)	section 364(1)
letting (in Chapter 1 of Part 7)	section 802
life annuity (in Chapter 9 of Part 4)	section 473(2)
limited interest (for the purposes of Chapter 6 of Part 5)	section 650(2)
linked savings arrangement (in Chapter 4 of Part 6)	section 703(2)
local authority	section 842A of ICTA
lower rate	section 832(1) of ICTA
market gardening	section 876(5)
market value (in Chapter 8 of Part 4)	section 460(3)
market value (in Chapter 9 of Part 4)	section 545(1)
mature (in relation to female animals) (for the purposes of Chapter 8 of Part 2)	section 113(5)
members of a company (for all purposes in the Tax Acts)	section 863(2)(d)
members of a firm (for all purposes in the Income Tax Acts)	section 863(2)(b)
mineral lease or agreement (in Chapter 8 of Part 3)	section 341(1)
mineral royalties (in Chapter 8 of Part 3)	sections 341(2), 342, 343
mortgage (in the application of the Act to Scotland)	section 879(1)
national savings arrangement (in Chapter 4 of Part 6)	section 704(2)
non-charitable trust (in Chapter 9 of Part 4)	section 545(1)
non-trade business (in Chapter 3 of Part 5)	section 609(1)
non-UK resident (and references to a non-UK resident or a non-UK resident person)	section 878(1)
normal self-assessment filing date	section 878(1)
notice	section 832(1) of ICTA
oil and gas exploration and appraisal	section 837B of ICTA
option (in Chapter 12 of Part 4)	section 558(2)
ordinary share capital	section 832(1) of ICTA
original master version (in Chapter 9 of Part 2)	section 132(1), (2)
overlap period (in Chapter 15 of Part 2)	section 204
overlap profit (in Chapter 15 of Part 2)	section 204
overseas life assurance business (in Chapter 9 of Part 4)	section 476(3)
overseas property business	Chapter 2 of Part 3
overseas property income (in Chapter 11 of Part 3)	section 358
part surrender or assignment event (in Chapter 9 of Part 4)	section 491(4)
patent rights (in Chapter 2 of Part 5)	section 587(4)
period of account	section 832(1) of ICTA
permanent establishment	section 832(1) of ICTA and section 148 of FA 2003
person to whom the remittance basis applies	section 878(2)
person creating trusts (for the purposes of Chapter 9 of Part 4)	section 465(6)
personal portfolio bond (in Chapter 9 of Part 4)	sections 516, 517
personal portfolio bond event (in Chapter 9 of Part 4)	section 491(4)
personal representatives	section 878(1)
plan managers (in Chapter 3 of Part 6)	section 696(2)
policy (in Chapter 9 of Part 4)	section 545(1)
post-cessation receipt (in Part 2)	sections 246 and 247
post-cessation receipt (in Chapter 10 of Part 3)	sections 353 and 354
preliminary expenditure (in Chapter 9 of Part 2)	section 130(6)
premises (in Part 3)	section 364(2)
premium (in Chapter 4 of Part 3)	section 307(1), (3)
premium (in Chapter 9 of Part 4)	section 545(2)
the price (in relation to the exchange of know-how) (in Chapter 14 of Part 2)	section 192(6)
the price (in relation to the exchange of property) (in Chapter 2 of Part 5)	section 605(4)
proceeds of sale (in relation to the exchange of know-how) (in Chapter 14 of Part 2)	section 192(6)
proceeds of sale (in relation to the exchange of property) (in Chapter 2 of Part 5)	section 605(4)
production expenditure (in Chapter 9 of Part 2)	section 130(2)
production herd (in Chapter 8 of Part 2)	section 112(1), (2)
production herd (of the same class) (for the purposes of Chapter 8 of Part 2)	section 113(2)
profits from a trade, profession or vocation (for the purposes of Chapter 16 of Part 2)	section 221(4), (5)
profits or gains	section 833(1) of ICTA
any prohibitive rule (in Chapter 9 of Part 2)	section 130(7)
property business	section 263(6)
property comprised in a settlement (in relation to a settlor) (in Chapter 5 of Part 5)	section 644(3)(a)
property or rights held on trust or on trusts (in the application of the Act to Scotland)	section 879(2)
provider (in relation to a bank arrangement) (in Chapter 4 of Part 6)	section 704(4)(b)
provider (in relation to a building society arrangement) (in Chapter 4 of Part 6)	section 704(5)(b)
provider (in relation to a European authorised institution arrangement) (in Chapter 4 of Part 6)	section 704(6)
provides foster care (and related expressions) (in Chapter 2 of Part 7)	section 806
public body (in Chapter 2 of Part 5)	section 603(2)
purchased life annuity (in Chapter 7 of Part 4)	section 423
qualifying distribution	section 832(1) of ICTA
qualifying policy	section 832(1) of ICTA
qualifying trade, profession or vocation (in Chapter 16 of Part 2)	section 221(2)
the rate applicable to trusts	section 832(1) of ICTA
receipt period (of a receipt) (for the purposes of Chapter 4 of Part 3)	sections 288(6), 296(3)
receipts and expenses (in the context of the calculation of the profits of a trade, profession or vocation or of a property business) (in the Income Tax Acts)	section 27 (including as applied by section 272)
recognised futures exchange	section 558(3)
recognised stock exchange	section 841(1) of ICTA
reduction under section 288 by reference to a taxed receipt (in Chapter 4 of Part 3)	section 290(6)
reduction under section 37(2) or (3) of ICTA by reference to an amount chargeable on the superior interest (in Chapter 4 of Part 3)	section 297(2)
registered pension scheme	section 832(1) of ICTA and section 150(2) of FA 2004
related (in relation to a policy) (in Chapter 9 of Part 4)	section 491(6)
related transactions (in Chapter 12 of Part 4)	section 566
relevant allowance (in Chapter 1 of Part 7)	section 802
relevant balancing charge (in Chapter 1 of Part 7)	section 802
relevant foreign income	section 830
relevant period (in Chapter 9 of Part 2)	section 133
the relevant profits (in Chapter 16 of Part 2)	section 221(1), (4), (5)
relevant telecommunication right (in Chapter 10 of Part 2)	section 146
rent receivable for a UK electric-line wayleave (in Chapter 9 of Part 3)	section 345
rent receivable in connection with a UK section 12(4) concern (in Chapter 8 of Part 3)	section 336
rent (in Chapter 8 of Part 3)	section 336(3)
rent (in Chapter 9 of Part 3)	section 345(3)
rent-a-room receipts (in Chapter 1 of Part 7)	section 786
rent-a-room relief (in Chapter 1 of Part 7)	section 784
residence (in Chapter 1 of Part 7)	section 787
the residuary income of the estate (for the purposes of Chapter 6 of Part 5)	section 666(1)
retail prices index	section 833(2) of ICTA
return from one or more disposals (in Chapter 12 of Part 4)	section 561(1)
reversion (in the application of Chapter 4 of Part 3 to Scotland)	section 307(3)
sale of an animal (for the purposes of Chapter 8 of Part 2)	section 113(3)
sale of know-how (for purposes of Chapter 14 of Part 2)	sections 192(5)
sale of property (in Chapter 2 of Part 5)	sections 605(1), 606(1)
sale or transfer of trading stock (in Chapter 12 of Part 2)	section 174(3)
sale proceeds of an animal (for the purposes of Chapter 8 of Part 2)	section 113(4)
Schedule A business	section 832(1) of ICTA
settlement (in Chapter 5 of Part 5)	section 620
settlor (in Chapter 5 of Part 5)	section 620(1)
settlor (for the purposes of Chapter 9 of Part 4)	section 465(6)
share (in Chapter 8 of Part 4)	section 460(1)
share of residuary income of estate (for the purposes of Chapter 6 of Part 5)	section 667
short-term lease (in Chapter 4 of Part 3)	section 276(6)
starting rate	section 832(1) of ICTA
statutory insolvency arrangement (in Part 2)	section 259
[F6 stepchild	section 832(1) of ICTA]
stock dividend income (in Chapter 5 of Part 4)	section 409(2)
strip (in Chapter 8 of Part 4)	section 444
substantial part of a herd (for purposes of Chapter 8 of Part 2)	section 113(6)
surrender (in the application of the Act to Scotland)	section 879(1)
tax advantage (in Chapter 8 of Part 4)	section 460(2)
tax year	section 878(1)
the tax year 2005-06 etc.	section 878(1)
taxed lease (in Chapter 4 of Part 3)	section 287(4)
taxed receipt (in Chapter 4 of Part 3)	section 287(4)
taxpayer (in Chapter 16 of Part 2)	section 221(1)
total income	section 835(1) of ICTA
total foster-care receipts (in Chapter 2 of Part 7)	section 807
total rent-a-room amount (in Chapter 1 of Part 7)	section 788
trade	section 832(1) of ICTA
trading stock (in relation to a trade) (in Chapter 12 of Part 2)	section 174
transfer of work in progress (in Chapter 12 of Part 2)	section 183(2)
trusts an individual created (for the purposes of Chapter 9 of Part 4)	section 465(6)
UK estate (in Chapter 6 of Part 5)	section 651(1)
UK property business	Chapter 2 of Part 3
UK resident (and references to a UK resident or a UK resident person)	section 878(1)
Ulster Savings Certificates	section 693(7)
unit holder	section 832(1) of ICTA
unit trust scheme	section 832(1) of ICTA
United Kingdom	section 830(1) of ICTA
unreduced amount (of a taxed receipt) (in Chapter 4 of Part 3)	sections 290(2) to (4), 296(4) to (6)
unused amount (of a taxed receipt) (for the purposes of Chapter 4 of Part 3)	section 290(1), (5)
venture capital trust	section 842AA(1) of ICTA
within the charge to tax	section 832(1) of ICTA
woodlands	section 876(4)
work in progress (in Chapter 12 of Part 2)	section 183(1)

Textual Amendments

F1 Sch. 4 Pt. 2 Table: entry relating to "the Board of Inland Revenue" repealed (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), ss. 50, 52, 53(1), Sch. 4 para. 134(2), Sch. 5

F2 Sch. 4 Pt. 2 Table: entry relating to ss. 452C and 452D inserted (retrospectively) by Finance (No. 2) Act 2005 (c. 22), s. 39, Sch. 7 para. 25(9)(10)

F3 Sch. 4 Pt. 2 Table:.entry relating to s. 452E inserted (retrospectively) by Finance (No. 2) Act 2005 (c. 22), s. 39, Sch. 7 para. 25(9)(10)

F4 Sch. 4 Pt. 2 Table: entry relating to "the Inland Revenue" repealed (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), ss. 50, 52, 53(1), Sch. 4 para. 134(2), Sch. 5

F5 Sch. 4 Pt. 2 Table: entry relating to s. 452B inserted (retrospectively) by Finance (No. 2) Act 2005 (c. 22), s. 39, Sch. 7 para. 25(9)(10)

F6 Sch. 4 Pt. 2 Table: entry relating to "stepchild" inserted (5.12.2005) by The Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1, 200