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Changes over time for: Section 2


Timeline of Changes
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.
Version Superseded: 06/04/2018
Status:
Point in time view as at 07/04/2005. This version of this provision has been superseded.

Status
You are viewing this legislation item as it stood at a particular point in time. A later version of this or provision, including subsequent changes and effects, supersedes this version.
Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
Changes to legislation:
There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Section 2.

Changes to Legislation
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2Overview of priority rulesU.K.
This section has no associated Explanatory Notes
(1)This Act contains some rules establishing an order of priority in respect of certain amounts which would otherwise—
(a)fall within a charge to income tax under two or more Chapters or Parts of this Act, or
(b)fall within a charge to income tax under a Chapter or Part of this Act and ITEPA 2003.
(2)See, in particular—
section 4 (provisions which must be given priority over Part 2),
section 261 (provisions which must be given priority over Part 3),
section 262 (priority between Chapters within Part 3),
section 366 (provisions which must be given priority over Part 4),
section 367 (priority between Chapters within Part 4),
section 575 (provisions which must be given priority over Part 5), and
section 576 (priority between Chapters within Part 5).
(3)But the rules in those sections need to be read with other rules of law (whether in this Act or otherwise) about the scope of particular provisions or the order of priority to be given to them.
(4)Section 171(2) of FA 1993 (profits of Lloyd's underwriters charged only under Chapter 2 of Part 2 of this Act) is one example of another rule of law.
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