Explanatory Notes

Income Tax (Trading and Other Income) Act 2005

2005 CHAPTER 5

24 March 2005

Commentary on Sections

Part 4: Savings and investment income

Chapter 12: Disposals of futures and options involving guaranteed returns
Section 557: Person liable

2180.This section states who is liable for any tax charged. It is based on paragraph 1 of Schedule 5AA to ICTA.