Income Tax (Trading and Other Income) Act 2005 Explanatory Notes

Structure of Chapters

1448.The basic structure of each Chapter is:

  • charge to tax on income;

  • the amount to be charged to tax;

  • the person liable for the tax charged; and

  • rules specific to that income.

1449.This Part does not contain exemption provisions. Signposts to the exemptions most likely to be relevant have been placed in the charge to tax provisions.

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