Part 1

Overview

Overview of Act
1
1
This Act imposes charges to income tax under—
a
Part 2 (trading income),
b
Part 3 (property income),
c
Part 4 (savings and investment income), and
d
Part 5 (certain miscellaneous income).
2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
Exemptions from those charges are dealt with in Part 6 (exempt income) but any Part 6 exemptions which are most obviously relevant to particular types of income are also mentioned in the provisions about those types of income.
4
What is or is not mentioned in those provisions does not limit the effect of Part 6.
5
This Act also contains—
za
provision about a trading allowance and property allowance (see Part 6A),
a
provision about rent-a-room relief and qualifying care relief (see Part 7),
b
special rules for foreign income (see Part 8),
c
special rules for partnerships (see Part 9), and
d
certain calculation rules and general provisions (see Part 10).
6
For abbreviations and defined expressions used in this Act, see section 885 and Schedule 4.
S. 1(2) repealed (6.4.2007 with effect as noted in s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), ss. 1027, 1031, 1034, Sch. 1 para. 493, Sch. 3 Pt. 1 (with transitional provisions and savings in Sch. 2)
Words in s. 1(5) substituted (16.12.2010) (with effect in accordance with Sch. 1 para. 36 of the amending Act) by Finance (No. 3) Act 2010 (c. 33), Sch. 1 para. 31 (with Sch. 1 para. 37)
S. 1(5)(za) inserted (16.11.2017) (with effect in accordance with Sch. 3 para. 13 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 3 para. 3