C1Part 3Trading income
Annotations:
Modifications etc. (not altering text)
Chapter 16Priority rules
201Provisions which must be given priority over this Part
1
Any receipt or other credit item, so far as it falls within—
a
Chapter 2 of this Part (receipts of trade), and
b
Chapter 3 of Part 4 so far as it relates to a UK property business,
is dealt with under Chapter 3 of Part 4.
F11A
Subsection (1) does not apply in the case of the long-term business of an insurance company.
2
Any receipt or other credit item, so far as it falls within—
a
this Part, and
b
Chapter 4 of Part 10 (income from holding an office),
is dealt with under Chapter 4 of Part 10.
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)