Explanatory Notes

Income Tax (Trading and Other Income) Act 2005

2005 CHAPTER 5

24 March 2005

Commentary on Sections

Schedule 1: Consequential Amendments

Part 2: Other Enactments

Income Tax (Earnings and Pensions) Act 2003

Paragraph 611: section 646A of ITEPA

3525.This new section of ITEPA provides a similar exemption for consular employees’ foreign pension income to that in section 771 of this Act.

3526.The section is based on section 322 of ICTA and brings into ITEPA the exemption for income within subsection (1A)(b) and (c) of that section. This is income that was previously charged under Schedule D Case V. This section now brings the exemption for foreign pension income into ITEPA under which the income would be charged if it were not exempt.

3527.The commentary on section 771 (relevant foreign income of consular officers and employees) applies also to this paragraph when read as for pension income.