13. Disposal Of Future Income. | Taxation Law | LexisNexis

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13. Disposal of future income.

A person who is entitled to receive income in the future, and who discounts or compounds his rights with the person liable to pay such income to him for a sum presently payable, may, subject to statutory intervention, have this treated as capital and not income¹

(1) Introduction

3. The two taxes on income.

4. Annual charge.

5. Stages in the imposition and collection of tax.

6. Charge to income tax.

7. The scope of income tax.

8. Charge to corporation tax.

9. The nature of income.

10. Income due but not received.

11. Gifts and allowances.

12. Income contrasted with capital.

13. Disposal of future income.

14. Factors considered in determining quality of receipt.

15. Distribution of company in liquidation.

16. The consolidating Acts.

17. General rules for interpretation of taxing Acts.

18. Tax Acts to be construed as one.

19. Application of legislation to Scotland and Northern Ireland.

20. Machinery provisions.

21. Power to make orders and regulations.

22. Statements of practice by HM Revenue and Customs.

23. Former taxes on income.