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 2 U.K. Property allowance

Relief if relevant property income exceeds property allowance U.K.

783BG Partial relief: alternative calculation of property profits: introduction U.K.

An individual qualifies for partial relief for a tax year if—

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

(b) the relevant property income exceeds the individual's property allowance for the tax year, and

(c) an election by the individual under section 783BK has effect for the tax year (election for partial relief).]