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Income Tax (Trading and Other Income) Act 2005

Income Tax (Trading and Other Income) Act 2005

2005 CHAPTER 5

Commentary on Sections

Part 6: Exempt income

Chapter 8: Other Annual Payments
Section 728: Commercial payments

2798.This section provides an exception to the exemption in section 727. It is based on section 347A(2)(c) of ICTA and provides that annual payments made for commercial reasons in connection with the individual’s trade, profession or vocation are not exempt from tax in the recipient’s hands.

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