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Income Tax (Trading and Other Income) Act 2005

Income Tax (Trading and Other Income) Act 2005

2005 CHAPTER 5

Commentary on Sections

Part 2: Trading income

Chapter 19: Miscellaneous and supplementary
Section 259: Meaning of “statutory insolvency arrangement”

1027.This section defines “statutory insolvency arrangement”. It is based on section 74(2) of ICTA.

1028.Section 74(2)(a) of ICTA refers to a voluntary arrangement under the Insolvency Act 1986 (dealing with individual voluntary arrangements in England and Wales) and the Insolvency (Northern Ireland) Order 1989. This section refers also to the Bankruptcy (Scotland) Act 1985. See Change 65 in Annex 1.

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