Part 1Overview

2Overview of Act

1

This Act has 17 Parts.

2

Part 2 contains basic provisions about income tax including—

a

provision about the annual nature of income tax (Chapter 1),

b

the rates at which income tax is charged (Chapter 2), and

c

the calculation of income tax liability (Chapter 3).

3

Part 3 is about taxpayers' personal reliefs including—

a

personal allowances (Chapter 2),

b

blind persons' allowances (Chapter 2), and

c

tax reductions for married couples and civil partners (Chapter 3).

4

Part 4 is about loss relief including relief for—

a

trade losses (Chapters 2 and 3),

b

losses from property businesses (Chapter 4),

c

losses in an employment or office (Chapter 5),

d

losses on disposal of shares (Chapter 6), and

e

losses from miscellaneous transactions (Chapter 7).

5

Part 5 is about relief under the enterprise investment scheme.

F155A

Part 5A is about relief under the seed enterprise investment scheme.

6

Part 6 is about—

a

relief for investment in venture capital trusts, and

b

other matters relating to venture capital trusts.

7

Part 7 is about community investment tax relief.

8

Part 8 is about a variety of reliefs including relief for—

a

interest payments (Chapter 1),

b

gifts to charity including gift aid (Chapters 2 and 3),

c

annual payments and patent royalties (Chapter 4), and

d

maintenance payments (Chapter 5).

9

Part 9 contains special rules about settlements and trustees including—

a

general provision about settlements and trustees (Chapter 2),

b

special income tax rates for trusts (Chapters 3, 4, 5 and 6),

c

rules about trustees' expenses (Chapters 4 and 8),

d

rules about trustees' discretionary payments (Chapter 7),

e

rules about unauthorised unit trusts (Chapter 9), and

f

rules about heritage maintenance settlements (Chapter 10).

10

Part 10 contains special rules about charitable trusts etc.

F510A

Part 10A is about alternative finance arrangements.

11

Part 11 is about manufactured payments and repos.

F611A

Part 11A is about leasing arrangements involving finance leases or loans.

12

Part 12 is about accrued income profits.

F712A

Part 12A is about sale and lease-back etc.

13

Part 13 is about tax avoidance in relation to—

a

transactions in securities (Chapter 1),

b

transfers of assets abroad (Chapter 2),

c

transactions in land (Chapter 3),

d

sales of occupation income (Chapter 4), F2...

e

trade losses (Chapter 5) F13...

F3f

transfers of income streams (Chapter 5A).

F12g

finance arrangements (Chapter 5B),

h

loan or credit transactions (Chapter 5C),

F11i

leases of plant and machinery (Chapter 6), and

j

tax relief for interest (Chapter 7).

14

Part 14 deals with some miscellaneous rules about income tax liability, including—

F1za

an alternative basis for charge (the remittance basis) for certain income and gains of certain individuals (Chapter A1),

a

limits on liability to income tax for non-UK residents (Chapter 1),

F4aa

exemption for persons not domiciled in United Kingdom (Chapter 1A),

b

special rules about residence F14and domicile (Chapters 2 and 2A), F10...

F9ba

rules about UK representatives of non-UK residents (Chapters 2B and 2C),

c

rules about jointly held property (Chapter 3)F8, and

d

imposition of the charge to income tax on the receipts of certain types of company being wound up (Chapter 3A).

15

Part 15 is about the deduction of income tax at source.

16

Part 16 contains definitions which apply for the purposes of the Income Tax Acts and other general provisions which apply for the purposes of those Acts.

17

Part 17—

a

contains provisions to be used in interpreting this Act,

b

introduces Schedule 1 (minor and consequential amendments),

c

introduces Schedule 2 (transitional provisions and savings),

d

introduces Schedule 3 (repeals and revocations, including of spent enactments),

e

introduces Schedule 4 (index of defined expressions that apply for the purposes of this Act),

f

confers powers on the Treasury to make orders, and

g

makes provision about the coming into force of this Act.