The Income Tax (Trading and Other Income) Act 2005 (c 5) is an Act of the Parliament of the United Kingdom.
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| Long title | An Act to restate, with minor changes, certain enactments relating to income tax on trading income, property income, savings and investment income and certain other income; and for connected purposes. |
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| Citation | 2005 c 5 |
| Dates | |
| Royal assent | 24 March 2005 |
| Other legislation | |
| Amended by | The Commissioners for Revenue and Customs Act 2005 The Income Tax Act 2007 |
Status: Amended | |
| Text of statute as originally enacted | |
| Revised text of statute as amended | |
It restated certain legislation relating to income tax, with minor changes that were mainly intended "to clarify existing provisions, make them consistent or bring the law into line with well established practice."[2] The Bill was the work of the Tax Law Rewrite Project team at the Inland Revenue.[3]
Part 1 edit
Section 1 edit
Section 1(2) was repealed by Part 1 of Schedule 3 to the Income Tax Act 2007.
Part 2 edit
Chapter 4 edit
Section 51 edit
This section was repealed by Part 1 of Schedule 3 to the Income Tax Act 2007.
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Section 79 edit
Section 79(2) was repealed by Part 1 of Schedule 3 to the Corporation Tax Act 2009.
Chapter 5 edit
Section 88 edit
Section 88(4)(a) was repealed by section 70 of, and Part 2(2) of Schedule 11 to, the Finance （No. 2） Act 2005.
Chapter 7 edit
Section 108 edit
Sections 108(4)(c) and (d) were repealed by Part 1 of Schedule 3 to the Income Tax Act 2007.
Chapter 8 edit
Section 128 edit
This section was repealed by paragraph 43 of the Schedule to the Finance Act 2009, Schedule 47 (Consequential Amendments) Order 2009.
Chapter 9 edit
Section 130 edit
Sections 130(1)(b) and (6) were repealed by section 178(1) of, and Part 3(4) of Schedule 26 to, the Finance Act 2006.
Section 131 edit
This section was repealed by section 178(1) of, and Part 3(4) of Schedule 26 to, the Finance Act 2006.
Section 132 edit
Sections 132(1)(a) and (2) and (3) were repealed by section 178(1) of, and Part 3(4) of Schedule 26 to, the Finance Act 2006.
Section 134 edit
Section 134(4) was repealed by section 178(1) of, and Part 3(4) of Schedule 26 to, the Finance Act 2006.
Section 135 edit
Section 135(1)(d), (6)(b) to (d) and (7) were repealed by section 178(1) of, and Part 3(4) of Schedule 26 to, the Finance Act 2006.
Sections 136 to 144 edit
These sections was repealed by section 178(1) of, and Part 3(4) of Schedule 26 to, the Finance Act 2006.
Chapter 11 edit
Section 157 edit
This section was repealed by paragraph 43(1)(a) of Schedule 39 to the Finance Act 2012.
Section 160 edit
This section was repealed by paragraph 51 of Schedule 4 to the Finance Act 2013.
Section 162 edit
This section was repealed by paragraph 21(1)(a) of Schedule 39 to the Finance Act 2012.
Chapter 12 edit
Section 186 edit
Sections 186(2) to (4) were repealed by paragraph 439(4) of the Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (SI 2009/56).
Chapter 16 edit
Section 223 edit
Section 223(4) was repealed by section 25(5)(c) of the Finance Act 2016.
Chapter 16A edit
Section 225N edit
Sections 225N(3) and (4) were repealed by paragraph 6(2) of Schedule 31 to the Finance Act 2013. Section 225N(5) was repealed by paragraph 14(2) of Schedule 31 to the Finance Act 2013.
Section 225O edit
This section was repealed by paragraph 6(3) of Schedule 31 to the Finance Act 2013.
Sections 225P and 225Q edit
These sections were repealed by paragraph 15 of Schedule 31 to the Finance Act 2013.
Section 225T edit
This section was repealed by paragraph 9 of Schedule 31 to the Finance Act 2013.
Chapter 17 edit
Sections 238 and 239 edit
This section was repealed by paragraph 51 of Schedule 4 to the Finance Act 2013.
Chapter 17A edit
Section 240D edit
Section 240D(6) was repealed by paragraph 9(6) of Schedule 2 to the Finance (No. 2) Act 2017.
Part 3 edit
Chapter 1 edit
Section 260 edit
Section 260(1)(f) was repealed by paragraph 47(b) of Schedule 7 to the Finance Act 2008.
Chapter 3 edit
Section 269 edit
Sections 269(3) and (4) were repealed by paragraph 48 of Schedule 7 to the Finance Act 2008.
Section 272 edit
Section 272(1) was repealed by paragraph 16(3) of Schedule 2 to the Finance (No. 2) Act 2017.
Chapter 4 edit
Section 302B edit
Sections 302B(3) and (4) were repealed by paragraph 57(2) of Schedule 23 to the Finance Act 2011.
Section 305 edit
This section was repealed by paragraph 44 of the Schedule to the Finance Act 2009, Schedule 47 (Consequential Amendments) Order 2009.
Chapter 5 edit
Sections 308A to 308C edit
These sections were repealed by section 74(1)(a) of the Finance Act 2016.
Section 319 edit
This section was repealed by paragraph 43(1)(b) of Schedule 39 to the Finance Act 2012.
Chapter 6 edit
Section 322 edit
Sections 322(2)(b) and (c) were repealed by Part 1 of Schedule 3 to the Income Tax Act 2007.
Section 327 edit
Section 327(2)(c) was repealed by section 74(1)(b) of the Finance Act 2016.
Chapter 8 edit
Section 339 edit
Section 339(3) was repealed by paragraph 43(2)(a)(ii) of Schedule 39 to the Finance Act 2012.
Sections 340 to 343 edit
These sections were repealed by paragraph 43(1)(c) of Schedule 39 to the Finance Act 2012.
Chapter 11 - Overseas property income edit
This Chapter consisted of sections 357 to 360. This Chapter was repealed by paragraph 49 of Schedule 7 to the Finance Act 2008.
Chapter 12 edit
Section 362 edit
This section was repealed by paragraph 8 of Schedule 5 to the Finance Act 2019.
Part 4 edit
Chapter 1 edit
Section 365 edit
Section 365(1)(i) was repealed by regulation 36(2) of the Unauthorised Unit Trusts (Tax) Regulations 2013 (SI 2013/2819). Section 365(1)(k) was repealed by paragraph 2(b) of Schedule 12 to the Finance Act 2013.
Chapter 2 edit
Section 373 edit
Sections 373(4) and (6) were repealed by section 70 of, and Part 2(3) of Schedule 11 to, the Finance (No. 2) Act 2005.
Section 376 edit
Section 376(4) and (6) were repealed by section 70 of, and Part 2(3) of Schedule 11 to, the Finance (No. 2) Act 2005.
Chapter 3 edit
Section 384 edit
Section 384(3) was repealed by paragraph 5 of Schedule 1 to the Finance Act 2016.
Section 385A edit
This section was repealed by section 14(1) of the Finance Act 2017.
Section 393 edit
Section 393(5) was repealed by paragraph 6 of Schedule 1 to the Finance Act 2016.
Section 394 edit
Section 394(5) was repealed by paragraph 7(a) of Schedule 1 to the Finance Act 2016.
Section 397 edit
This section was repealed by paragraph 1(1) of Schedule 1 to the Finance Act 2016. Section 397(2)(b) was repealed by Part 1 of Schedule 3 to the Income Tax Act 2007.
Sections 397A edit
Sections 397 to 398 were repealed by paragraph 1(1) of Schedule 1 to the Finance Act 2016. Section 397A(8) was repealed by paragraph 14(b) of Schedule 29 to the Finance Act 2013.
Section 397AA edit
Sections 397 to 398 were repealed by paragraph 1(1) of Schedule 1 to the Finance Act 2016.
Section 397B edit
This section was repealed by paragraph 15 of Schedule 29 to the Finance Act 2013.
Sections 397BA and 397C edit
Sections 397 to 398 were repealed by paragraph 1(1) of Schedule 1 to the Finance Act 2016.
Section 398 edit
This section was repealed by paragraph 1(1) of Schedule 1 to the Finance Act 2016.
Section 399 edit
Sections 399(3) to (5), (5A) and (7) were repealed by paragraphs 11(4) to (6) of Schedule 1 to the Finance Act 2016.
Section 400 edit
This section was repealed by paragraph 1(1) of Schedule 1 to the Finance Act 2016. Section 400(7) was repealed by regulation 36(6) of the Unauthorised Unit Trusts (Tax) Regulations 2013.
Section 401A edit
This section was repealed by paragraph 13 of Schedule 1 to the Finance Act 2016.
Chapter 4 edit
Section 406 edit
Section 406(4A) was repealed by paragraph 15 of Schedule 1 to the Finance Act 2016.
Section 407 edit
Section 407(4A) was repealed by paragraph 15 of Schedule 1 to the Finance Act 2016.
Chapter 5 edit
Section 414 edit
This section was repealed by paragraph 1(1) of Schedule 1 to the Finance Act 2016.
Chapter 6 edit
Section 416 edit
Section 416(2) was repealed by paragraph 18(b) of Schedule 1 to the Finance Act 2016.
Section 421 edit
This section was repealed by paragraph 1(1) of Schedule 1 to the Finance Act 2016.
Chapter 8 edit
Section 457 edit
Section 457(3) was repealed by Part 1 of Schedule 3 to the Income Tax Act 2007. Section 457(4) was repealed by section 178(1) of, and Part 3(15) of Schedule 26 to, the Finance Act 2006.
Chapter 10 - Distributions from unauthorised unit trusts edit
This Chapter was repealed by regulation 36(8) of the Unauthorised Unit Trusts (Tax) Regulations 2013.
Chapter 12 edit
Section 568 edit
Section 568(5) was repealed by section 178(1) of, and Part 3(15) of Schedule 26 to, the Finance Act 2006.
Part 5 edit
Chapter 5 edit
Section 647 edit
This section repealed by paragraph 57(3) of Schedule 23 to the Finance Act 2011.
Chapter 7 edit
Section 683 edit
Section 683(4)(g) was repealed by paragraph 21(2) of Schedule 39 to the Finance Act 2012.
Section 685A edit
Section 685A(4)(c) was repealed by Part 1 of Schedule 3 to the Income Tax Act 2007.
Part 6 edit
Chapter 7 edit
Section 724 edit
Section 724(3) was repealed by Part 1 of Schedule 3 to the Income Tax Act 2007.
Chapter 8 edit
Section 748 edit
This section was repealed by paragraph 21(1)(b) of Schedule 39 to the Finance Act 2012.
Part 8 edit
Chapter 1 edit
Section 830 edit
Section 830(2)(d) repealed by paragraph 51(3) of Schedule 7 to the Finance Act 2008.
Chapter 2 edit
Section 831 edit
This section repealed by paragraph 52 of Schedule 7 to the Finance Act 2008.
Sections 833 to 837 edit
These sections were repealed by paragraph 54 of Schedule 7 to the Finance Act 2008.
Part 9 edit
Section 858 edit
Section 858(3) was repealed by paragraph 27 of Schedule 1 to the Finance Act 2016.
Section 862 edit
Sections 862(3) and (7) were repealed by Part 1 of Schedule 3 to the Corporation Tax Act 2009.
Part 10 edit
Chapter 3 edit
Sections 876 and 877 edit
These sections were repealed by Part 1 of Schedule 3 to the Income Tax Act 2007.
Section 879 edit
Section 879(2) was repealed by Part 1 of Schedule 3 to the Income Tax Act 2007.
Section 881 edit
This section was repealed by Part 1 of Schedule 3 to the Corporation Tax Act 2009.
References edit
- "Income Tax (Trading and Other Income) Act 2005". Halsbury's Statutes of England and Wales. Fourth Edition. 2010 Reissue. Title "Taxes, Customs and Excise". Volume 46.
- ^ The citation of this Act by this short title is authorised by section 886 of this Act.
- ^ See the title of the Act and paragraphs 6 and 7 of the explanatory notes to the Act.
- ^ Explanatory notes, paragraph 10 (and see paragraph 1 for their name)
External links edit
- The Income Tax (Trading and Other Income) Act 2005, as amended from the National Archives.
- The Income Tax (Trading and Other Income) Act 2005, as originally enacted from the National Archives.
- Explanatory notes to the Income Tax (Trading and Other Income) Act 2005.