Explanatory Notes

Income Tax (Trading and Other Income) Act 2005

2005 CHAPTER 5

24 March 2005

Commentary on Sections

Part 2: Trading income

Chapter 5: Trade profits: rules allowing deductions
Section 71: Educational establishments

292.This section defines “educational establishments” for the purposes of section 70. It is based on section 86(3),(4),(5) and (6) of ICTA.

293.Section 86(4)(c) of ICTA refers to an independent school registered under section 465 of the Education Act 1996. Section 465 of the Education Act 1996 was repealed by the Education Act 2002. So subsection (1)(c) refers instead to an independent school registered under section 161 of the 2002 Act.