Part 2Trading income

Chapter 1Introduction

4Provisions which must be given priority over Part 2

(1)

Any receipt or other credit item, so far as it falls within—

(a)

Chapter 2 of this Part (receipts of trade, profession or vocation), and

(b)

Chapter 3 of Part 3 so far as it relates to a UK property business,

is dealt with under Part 3.

(2)

Any receipt or other credit item, so far as it falls within—

(a)

this Part, and

(b)

Part 2, 9 or 10 of ITEPA 2003 (employment income, pension income or social security income),

is dealt with under the relevant Part of ITEPA 2003.