PART 6A

Income charged under this Act: trading and property allowances
CHAPTER 1

Trading allowance

Partial relief

Partial relief: alternative calculation of chargeable miscellaneous income
783AJ
1
This section applies if—
a
an individual qualifies for partial relief for a tax year, and
b
the individual's relevant income for the tax year consists of or includes miscellaneous income.
2
The amount of miscellaneous income chargeable to income tax for the tax year is—
a
the miscellaneous income for the tax year, less
b
the deductible amount.
3
Subject to section 783AK, the deductible amount is equal to the individual's trading allowance for the tax year.
Pt. 6A Ch. 1 excluded (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 4(4)
Pt. 6A 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. 1