Map of the Income Tax (Trading and Other Income) Act Compiled by John Jeffrey-Cook, CTA (Fellow), FCA, FCIS, ATT This map is a. Income Tax (Trading and Other Income) Act Part 1 Overview (ss ) · Part 2 Trading income (ss ) · Part 3 Property income (ss ) · Part 4. The Income Tax (Trading and Other Income) Act (c 5) is an Act of the Parliament of the United Kingdom. It restated certain legislation relating to income tax.

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Distribution of assets of mutual concerns. In section 4 2 and 3 rates of capital gains tax Act amendment to earlier affecting provision S. In section 2 power to provide incentives to use electronic Application of this Chapter to corporate strips. Orders and regulations made by Treasury or Commissioners. Transfer of assets abroad.

Special requirements for certain foreign managers. In section 85 7 b advance pricing agreements etc. Arrangements treated as repayment of UK-linked debts. The value of a policy or contract.

ITTOIA 2005 (reg. 36)

Omit section schemes for employees and directors to acquire Omit section effect for income tax of change in The Inheritance Tax Act is amended as follows. Overview of Chapter 1. Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified.


Determination of shares etc. Claim for relief for unremittable income. In Schedule 15 territorial extension of charge to tax: Interest from tax reserve certificates.

Income Tax (Trading and Other Income) Act 2005

Omit sections and A ascertainment of undistributed income and They appear at the foot of the relevant provision or under the associated heading. Charge to tax under Chapter 8.

In ithoia 1 carry-forward where business transferred to a company Where applicable the commencement orders are listed under two headings, firstly those that bring some part of the Act you are viewing into force and secondly, those that bring into force legislation that affects some part of the legislation you are viewing.

Settlements by two or more settlors.

This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this Act. Transfer of rights if transferee does not carry on trade. In Schedule 1A claims etc. Chapter 9 Gains from contracts for life insurance etc.

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Income Tax (Trading and Other Income) Act

In section rent etc. Interpretation of this Chapter. Omit sections 60 to 63A basis of assessment for income Chapter 2 Income taxed as trade profits. Claim for repayment of tax payable by virtue of section Ittoiaa provisions yet to be inserted into this Act including any effects on those provisions:. Tax treatment of reverse premiums. Charge to tax under Chapter In section payments securing annuities — a renumber the existing Omit section treatment of receipts as earned income.

Arrangements not at arm’s length.

Capital Allowances Act c. In section 1 deductions from profits of contributions paid under Overview of Part 2.

Omit section 87 treatment of certain telecommunication rights. Withdrawal and variation of authorisations. Deductions for expenditure on energy-saving items.

ITTOIA (reg. 36) | Croner-i Tax and Accounting

Income tax treated as paid. Deduction for expenditure on energy-saving items. When chargeable events occur.