Income Tax (Trading and Other Income) Act 2005 (c. 5)

[F1 PART 6A U.K. Income charged under this Act: trading and property allowances

Textual Amendments

F1 Pt. 6A inserted (16.11.2017) (with effect in accordance with Sch. 3 para. 13 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 3 para. 1

CHAPTER 1 U.K. Trading allowance

Modifications etc. (not altering text)

C1 Pt. 6A Ch. 1 excluded (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 4(4)

Exclusions from relief U.K.

783AP Exclusion from relief: payments by firm U.K.

No relief under this Chapter is given to an individual for a tax year if—

(a) the individual has relevant income for the tax year, and

(b) the income includes a payment made by, or on behalf of, a firm at a time when the individual is—

(i) a partner in the firm, or

(ii) connected with a partner in the firm.]