Rules for calculating incomeU.K.
623Calculation of incomeU.K.
(1)This section applies for the purpose of calculating the liability to tax of [F1an individual] charged under this Chapter.
(2)The same deductions and reliefs are allowed as would have been allowed if the amount treated as [F2the individual's] income as a result of this Chapter had been received by [F2the individual] as income.
Textual Amendments
F1Words in s. 623 substituted (with effect in accordance with Sch. 10 para. 21 of the amending Act) by Finance Act 2018 (c. 3), Sch. 10 para. 7(a)
F2Words in s. 623 substituted (with effect in accordance with Sch. 10 para. 21 of the amending Act) by virtue of Finance Act 2018 (c. 3), Sch. 10 para. 7(b)