Income Tax Act 2007

26Tax reductionsU.K.

This section has no associated Explanatory Notes

(1)If the taxpayer is an individual, the provisions referred to at Step 6 of the calculation in section 23 are—

(a)the following—

  • Chapter 3 of Part 3 of this Act or section 257A, 257AB, 257BA or 257BB of ICTA (tax reductions for married couples and civil partners),

  • Chapter 1 of Part 5 (EIS relief),

  • Chapter 2 of Part 6 (VCT relief),

  • Chapter 1 of Part 7 (community investment tax relief),

  • section 453 (qualifying maintenance payments),

  • section 459 of this Act or section 273 of ICTA (payments for benefit of family members),

  • section 461 (spreading of patent royalty receipts),

  • section 353(1A) of ICTA (relief for interest on loan to buy life annuity),

  • section 535 of ITTOIA 2005 (top slicing relief), and

  • section 539 of ITTOIA 2005 (relief for deficiencies), and

(b)the following—

  • section 788 of ICTA (double taxation arrangements: relief by agreement),

  • section 790(1) of ICTA (relief for foreign tax where no double taxation arrangements),

  • section 401 of ITTOIA 2005 (relief: qualifying distribution after linked non-qualifying distribution), and

  • sections 677 and 678 of ITTOIA 2005 (relief where foreign estates have borne UK income tax).

(2)In any other case, the provisions referred to at Step 6 of the calculation in section 23 are—

(a)the provisions listed in subsection (1)(b), and

(b)section 26 of FA 2005 (trusts with vulnerable beneficiary: income tax relief).