Part 2Trading income
Chapter 1Introduction
3Overview of Part 2
1
This Part imposes charges to income tax under—
a
Chapter 2 (the profits of a trade, profession or vocation which meet the territorial conditions mentioned in section 6),
b
Chapter 17 (amounts treated as adjustment income under section 228), and
c
Chapter 18 (post-cessation receipts that are chargeable under this Part).
2
Part 6 deals with exemptions from the charges under this Part.
3
See, in particular, the exemptions under sections 777 (VAT repayment supplements) and 778 (incentives to use electronic communications).
4
The charges under this Part apply to non-UK residents as well as UK residents but this is subject to sections F16(1A), (2) and (3) and 243(3) and (4) (charges on non-UK residents only on UK income).
5
The rest of this Part contains rules relevant to the charges to tax under this Part.
6
This section needs to be read with the relevant priority rules (see sections 2 and 4).