Part III Income Tax, Corporation Tax and Capital Gains Tax

Chapter I Income Tax and Corporation Tax

Rents and other receipts from land

38 Taxation of rents and other receipts from land.

(1)

The provisions of Schedule 5 to this Act have effect with respect to tax on rents and other receipts from land.

  • Part I contains amendments relating to the charge to tax under Schedule A or Case V of Schedule D on rents and other receipts from land.

  • Part II contains amendments about relief for losses incurred in a Schedule A business or overseas property business, and the relationship between such relief and other reliefs.

  • Part III contains minor and consequential amendments.

(2)

So far as relating to income tax, the provisions of Parts I to III of that Schedule have effect for the year 1998-99 and subsequent years of assessment.

(3)

So far as relating to corporation tax, the provisions of Parts I to III of that Schedule come into force on 1st April 1998, subject to the transitional provisions in Part IV of the Schedule.