Section 4 — Income Tax Act 2007: Income tax an annual tax

Income tax an annual tax 4 1 Income tax is charged for a year only if an Act so provides.

2 A year for which income tax is charged is called a “tax year”.

3 A tax year begins on 6 April and ends on the following 5 April. 4 “ The tax year 2007-08 ” means the tax year beginning on 6 April 2007 (and any corresponding expression in which two years are similarly mentioned is to be read in the same way).

5 Every assessment to income tax must be made for a tax year.

6 Subsection (5) is subject to Chapter 15 of Part 15 (by virtue of which an assessment may relate to a return period).