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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 7: Income charged under this Act: rent-a-room and foster-care relief

Chapter 1: Rent-a-room relief
Section 784: Overview of Chapter 1

2924.This section introduces the relief. It is new.

2925.Subsection (2) introduces the key factor in determining the form of relief available: the level of gross receipts.

2926.Subsection (3) introduces the full form of the relief where gross receipts are modest.

2927.Subsection (4) introduces the alternative method of calculation form of the relief where gross receipts are larger.

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