Overview
3298.This Part contains a number of generally applicable rules. They apply to all income charged to corporation tax.
3299.The rules are included here to save repetition at numerous points in the Act. Some of the rules apply mainly to trading and property income within Parts 3 and 4 of this Act. The approach for income tax in ITTOIA is to put one version of the rule in the trading income Part, with another version of the rule in the general provisions Part. But for corporation tax the rules apply also to expenses of management (see Part 16 of this Act) and expenses of insurance companies (see section 76 of ICTA).