Part 17Definitions for purposes of Act and final provisions
Definitions for the purposes of Act
1026Meaning of βnon-qualifying incomeβ for the purposes of section 1025
For the purposes of section 1025 an amount included in a person's total income is non-qualifying income if it isβ
a
income on which income tax is treated as paid under section 399(2) or 400(2) of ITTOIA 2005 (distributions from UK resident companies etc on which there is no tax credit),
b
income on which an individual is liable to income tax as a result of section 413(2) of ITTOIA 2005 or trustees are so liable as a result of section 413(3) of that Act (stock dividend income),
c
income on which any person is liable to income tax under Chapter 6 of Part 4 of ITTOIA 2005 (release of loan to participator in a close company),
d
income on which an individual is liable to income tax as a result of section 465 of ITTOIA 2005 or trustees are so liable as a result of section 467 of that Act (gains from contracts for life insurance etc), being income to which section 530 of that Act applies (income tax treated as paid etc),
e
income which is included in the aggregate income of an estate as a result of section 664(2)(c), (d) or (e) of ITTOIA 2005 (income arising to personal representatives and corresponding to income within paragraph (b), (c) or (d)), F1or
f
income on which income tax is treated as paid under section 685A(3) of ITTOIA 2005 (settlor-interested settlements), F2...
F2g
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