Commentary

E1.402 Savings and investment income—priority of charge

Personal and employment tax

E1.402 Savings and investment income—priority of charge

E1.402 Savings and investment income—priority of charge

Where income might fall under more than one taxing provision, the following priority rules apply.

  1.  

    •     Income which falls within ITTOIA 2005, Pt 4 (ss 365–573) and also within ITTOIA 2005, Pt 2, Ch 2 (ss 5–23H) (income taxed as trade profits — see Part B2) is dealt with as trading income under ITTOIA 2005, Pt 2 (ss 3–259)1. This priority is based on the nature of the receipt rather than on the status of the recipient

  2.  

    •     Income which falls within ITTOIA 2005, Pt 4 and also within ITTOIA 2005, Pt 3,

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