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					<dc:identifier>http://www.legislation.gov.uk/ukpga/2005/5/section/225C</dc:identifier><dc:title>Income Tax (Trading and Other Income) Act 2005</dc:title><dc:description>An Act to restate, with minor changes, certain enactments relating to income tax on trading income, property income, savings and investment income and certain other income; and for connected purposes.</dc:description><dc:type>text</dc:type><dc:format>text/xml</dc:format><dc:language>en</dc:language><dc:publisher>Statute Law Database</dc:publisher><dc:modified>2026-05-08</dc:modified><dc:contributor>Expert Participation</dc:contributor><dct:valid>2026-04-06</dct:valid>
					
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									<ukm:Notes><ukm:Note IdURI="http://www.legislation.gov.uk/id/ukpga/2005/5/notes"/><ukm:Alternatives><ukm:Alternative Date="2008-03-03" URI="http://www.legislation.gov.uk/ukpga/2005/5/pdfs/ukpgaen_20050005_en_003.pdf" Title="Volume 3"/><ukm:Alternative Date="2008-03-03" URI="http://www.legislation.gov.uk/ukpga/2005/5/pdfs/ukpgaen_20050005_en_002.pdf" Title="Volume 2"/><ukm:Alternative Date="2008-03-03" URI="http://www.legislation.gov.uk/ukpga/2005/5/pdfs/ukpgaen_20050005_en_001.pdf" Title="Volume 1"/><ukm:Alternative Date="2008-03-03" URI="http://www.legislation.gov.uk/ukpga/2005/5/pdfs/ukpgaen_20050005_en.pdf" Title="Explanatory Note"/></ukm:Alternatives>       
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				</ukm:Metadata><Primary><Body DocumentURI="http://www.legislation.gov.uk/ukpga/2005/5/body" IdURI="http://www.legislation.gov.uk/id/ukpga/2005/5/body" NumberOfProvisions="1289" RestrictExtent="E+W+S+N.I." RestrictStartDate="2026-04-06"><Part DocumentURI="http://www.legislation.gov.uk/ukpga/2005/5/part/2" IdURI="http://www.legislation.gov.uk/id/ukpga/2005/5/part/2" NumberOfProvisions="421" id="part-2" RestrictExtent="E+W+S+N.I." RestrictStartDate="2026-04-01"><Number><Strong>Part 2</Strong></Number><Title>Trading income</Title><Chapter DocumentURI="http://www.legislation.gov.uk/ukpga/2005/5/part/2/chapter/16A" IdURI="http://www.legislation.gov.uk/id/ukpga/2005/5/part/2/chapter/16A" NumberOfProvisions="23" id="part-2-chapter-16A" RestrictExtent="E+W+S+N.I." RestrictStartDate="2013-07-17"><Number><Addition ChangeId="key-63626370b916f5445aaacd1e1f80434f-1561044731872" CommentaryRef="key-63626370b916f5445aaacd1e1f80434f">Chapter 16A</Addition></Number><Title><Addition ChangeId="key-63626370b916f5445aaacd1e1f80434f-1561044731872" CommentaryRef="key-63626370b916f5445aaacd1e1f80434f">Oil activities</Addition></Title><Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/2005/5/part/2/chapter/16A/crossheading/basic-definitions" IdURI="http://www.legislation.gov.uk/id/ukpga/2005/5/part/2/chapter/16A/crossheading/basic-definitions" NumberOfProvisions="5" id="part-2-chapter-16A-crossheading-basic-definitions" RestrictStartDate="2010-04-01"><Title><Emphasis><Addition ChangeId="key-63626370b916f5445aaacd1e1f80434f-1561044731872" CommentaryRef="key-63626370b916f5445aaacd1e1f80434f">Basic definitions</Addition></Emphasis></Title><P1group RestrictStartDate="2010-04-01"><Title><Addition ChangeId="key-63626370b916f5445aaacd1e1f80434f-1561044731872" CommentaryRef="key-63626370b916f5445aaacd1e1f80434f">Meaning of  “ring fence income”</Addition></Title><P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2005/5/section/225C" IdURI="http://www.legislation.gov.uk/id/ukpga/2005/5/section/225C" id="section-225C"><Pnumber PuncAfter=""><Addition ChangeId="key-63626370b916f5445aaacd1e1f80434f-1561044731872" CommentaryRef="key-63626370b916f5445aaacd1e1f80434f">225C</Addition></Pnumber><P1para><Text><Addition ChangeId="key-63626370b916f5445aaacd1e1f80434f-1561044731872" CommentaryRef="key-63626370b916f5445aaacd1e1f80434f">In this Chapter  “</Addition><Term><Addition ChangeId="key-63626370b916f5445aaacd1e1f80434f-1561044731872" CommentaryRef="key-63626370b916f5445aaacd1e1f80434f">ring fence income</Addition></Term><Addition ChangeId="key-63626370b916f5445aaacd1e1f80434f-1561044731872" CommentaryRef="key-63626370b916f5445aaacd1e1f80434f">” means income arising from oil extraction activities or oil rights.</Addition></Text></P1para></P1></P1group></Pblock></Chapter></Part></Body></Primary><Commentaries><Commentary id="key-63626370b916f5445aaacd1e1f80434f" Type="F"><Para><Text>Pt. 2 Ch. 16A inserted (with effect in accordance with s. 381(1) of the amending Act) by <Citation URI="http://www.legislation.gov.uk/id/ukpga/2010/8" id="cer4vcwx3-00007" Class="UnitedKingdomPublicGeneralAct" Year="2010" Number="8" Title="Taxation (International and Other Provisions) Act 2010">Taxation (International and Other Provisions) Act 2010 (c. 8)</Citation>, <CitationSubRef CitationRef="cer4vcwx3-00007" id="cer4vcwx3-00008" URI="http://www.legislation.gov.uk/id/ukpga/2010/8/section/381/1" SectionRef="section-381-1">s. 381(1)</CitationSubRef>, <CitationSubRef CitationRef="cer4vcwx3-00007" id="cer4vcwx3-00009" URI="http://www.legislation.gov.uk/id/ukpga/2010/8/schedule/1/paragraph/2" SectionRef="schedule-1-paragraph-2" Operative="true">Sch. 1 para. 2</CitationSubRef> (with <CitationSubRef CitationRef="cer4vcwx3-00007" id="cer4vcwx3-00010" URI="http://www.legislation.gov.uk/id/ukpga/2010/8/schedule/9/paragraph/1" UpTo="http://www.legislation.gov.uk/id/ukpga/2010/8/schedule/9/paragraph/9" StartSectionRef="schedule-9-paragraph-1" EndSectionRef="schedule-9-paragraph-9">Sch. 9 paras. 1-9</CitationSubRef>, <CitationSubRef CitationRef="cer4vcwx3-00007" id="cer4vcwx3-00011" URI="http://www.legislation.gov.uk/id/ukpga/2010/8/schedule/9/paragraph/22" SectionRef="schedule-9-paragraph-22">22</CitationSubRef>)</Text></Para></Commentary></Commentaries></Legislation>