Part 2Basic provisions

Chapter 3Calculation of income tax liability

26Tax reductions

(1)

If the taxpayer is an individual, the provisions referred to at Step 6 of the calculation in section 23 are—

(a)

the following—

  • Chapter 3 of Part 3 of this Act F1... (tax reductions for married couples and civil partners),

  • F2Chapter 3A of Part 3 of this Act (transferable tax allowance for married couples and civil partners),

  • Chapter 1 of Part 5 (EIS relief),

  • F3Chapter 1 of Part 5A (SEIS relief),

  • F4Chapter 1 of Part 5B (relief for social investments),

  • Chapter 2 of Part 6 (VCT relief),

  • Chapter 1 of Part 7 (community investment tax relief),

  • F5section 399B (relief for non-deductible interest on loan to invest in partnership with residential property business),

  • F6section 414A(3) (gift aid where devolved basic rate is above basic rate),

  • section 453 (qualifying maintenance payments),

  • F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • section 461 (spreading of patent royalty receipts),

  • section 353(1A) of ICTA (relief for interest on loan to buy life annuity),

  • F8section 192A of FA 2004 (relief at source: additional relief),

  • F9section 274A of ITTOIA 2005 (property business: relief for non-deductible costs of a dwelling-related loan),

  • section 535 of ITTOIA 2005 (top slicing relief), and

  • section 539 of ITTOIA 2005 (relief for deficiencies), and

(b)

the following—

  • F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • section 401 of ITTOIA 2005 (relief: F11distribution repaying shares or security issued in earlier distribution), F12...

  • sections 677 and 678 of ITTOIA 2005 (relief where foreign estates have borne UK income tax).

  • F13sections 2 and 6 of TIOPA 2010 (double taxation relief: relief by agreement), and

  • section 18(1)(b) and (2) of TIOPA 2010 (relief for foreign tax where no double taxation arrangements).

(2)

In any other case, the provisions referred to at Step 6 of the calculation in section 23 are—

(a)

the provisions listed in subsection (1)(b),

F14(aa)

section 274B of ITTOIA 2005 (trusts with accumulated or discretionary income derived from property business: relief for non-deductible costs of dwelling-related loans), and

(b)

section 26 of FA 2005 (trusts with vulnerable beneficiary: income tax relief).