Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section 29 — Tax reductions: supplementary
Tax reductions: supplementary 29 1 This section supplements the provisions about tax reductions in Step 6 of the calculation in section 23. 2 A tax reduction may be deducted at Step 6 only so far as…
Section 30 — Additional tax
Additional tax 30 1 If the taxpayer is an individual, the provisions referred to at Step 7 of the calculation in section 23 are— section 414A(4) read with section 414A(5) (gift aid where devolved…
Section 31 — Total income: supplementary
Total income: supplementary 31 1 This section applies for the purposes of calculating total income. 2 Income from which a deduction in respect of income tax is to be made (or treated as made) at the…
Section 32 — Liability not dealt with in the calculation
Liability not dealt with in the calculation 32 The liabilities referred to in section 22(2) are income tax liability— under section 74C(5) (non-active traders: withdrawal of relief), under section…
Section 33 — Overview of Part
Overview of Part 33 1 This Part provides for personal reliefs. 2 Chapter 2 provides for entitlement to a personal allowance and a blind person's allowance. 3 Chapter 3 provides for tax reductions for…
Section 34 — Allowances under Chapter
Allowances under Chapter 34 1 In this Chapter— a section 35 deals with entitlement to a personal allowance, b section 38 deals with entitlement to a blind person's allowance, and c section 39 deals…
Section 35 — Personal allowance
Personal allowance 35 1 An individual who makes a claim is entitled to a personal allowance of £12,570 for a tax year if the individual meets the requirements of section 56 (residence etc ). 2 For an…
Section 36 — Personal allowance for those born after 5 April 1938 but before 6 April 1948
Personal allowance for those born after 5 April 1938 but before 6 April 1948 36 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 37 — Personal allowance for those born before 6 April 1938
Personal allowance for those born before 6 April 1938 37 1 An individual who makes a claim is entitled to a personal allowance of £10,660, or (if greater) the section 35 amount, for a tax year if the…
Section 38 — Blind person's allowance
Blind person's allowance 38 1 An individual who makes a claim is entitled to a blind person's allowance of £3,250 for a tax year if the individual— a meets the first or second condition for the whole…
Section 39 — Transfer of part of blind person's allowance to a spouse or civil partner
Transfer of part of blind person's allowance to a spouse or civil partner 39 1 This section applies to an individual who is entitled to a blind person's allowance under section 38 for a tax year if—…
Section 40 — Election for transfer of allowance under section 39
Election for transfer of allowance under section 39 40 1 An election under section 39— a must be made not more than 4 years after the end of the tax year to which it relates, and b cannot be…
Section 41 — Allowances in year of death
Allowances in year of death 41 1 Any allowance to which an individual is entitled under this Chapter for any tax year, including the tax year in which the individual dies, is given in full. 2 . . . .…
Section 42 — Tax reductions under Chapter
Tax reductions under Chapter 42 1 This Chapter contains provisions about entitlement to tax reductions in a case where a party to a marriage or civil partnership was born before 6 April 1935. 2…
Section 43 — Meaning of “the minimum amount”
Meaning of “the minimum amount” 43 In this Chapter “ the minimum amount ” means £4,530 .
Section 43A — Meaning of “relevant conversion”
Meaning of “relevant conversion” 43A For the purposes of this Chapter, a civil partnership between two people results from a relevant conversion if— a the civil partnership results from— i the…
Section 44 — Election for new rules to apply
Election for new rules to apply 44 1 In this Chapter “ an election for the new rules to apply ” means an election made by a husband and wife who got married before 5 December 2005 , or by the civil…
Section 45 — Marriages before 5 December 2005
Marriages before 5 December 2005 45 1 If a man— a makes a claim for a tax year, and b meets the conditions set out in subsection (2) or the conditions set out in subsection (2A) , he is entitled to a…
Section 46 — Marriages and civil partnerships on or after 5 December 2005
Marriages and civil partnerships on or after 5 December 2005 46 1 If an individual— a makes a claim for a tax year, and b meets the conditions set out in subsection (2), the individual is entitled to…
Section 47 — Election by individual to transfer relief under section 45 or 46
Election by individual to transfer relief under section 45 or 46 47 1 If— a an individual's spouse or civil partner is entitled to a tax reduction under section 45 or 46 for a tax year, and b the…
Section 48 — Joint election to transfer relief under section 45 or 46
Joint election to transfer relief under section 45 or 46 48 1 If— a an individual's spouse or civil partner is entitled to a tax reduction under section 45 or 46 for a tax year, and b the conditions…
Section 49 — Election for partial transfer back of relief
Election for partial transfer back of relief 49 1 If an individual whose spouse or civil partner is entitled under section 48(1) to a tax reduction for a tax year— a has made an election which is in…
Section 50 — Procedure for making and withdrawing elections under sections 47 to 49
Procedure for making and withdrawing elections under sections 47 to 49 50 1 This section applies to elections under sections 47 to 49. 2 An election— a must, except in the cases dealt with by…
Section 51 — Transfer of unused relief
Transfer of unused relief 51 1 If— a an individual's spouse or civil partner is entitled to a tax reduction under section 45 or 46 for a tax year, b the spouse or civil partner's MCA tax reductions…
Section 52 — Transfer back of unused relief
Transfer back of unused relief 52 1 If— a an individual's spouse or civil partner is entitled to a tax reduction under section 47 or 48 for a tax year, b the tax reduction is greater than the spouse…
Section 53 — Transfer of unused relief: general
Transfer of unused relief: general 53 1 For the purposes of sections 51 and 52, the comparable tax liability of an individual is the amount of the individual's tax left after Step 6 of the…
Section 54 — Tax reductions in the year of marriage or entry into civil partnership
Tax reductions in the year of marriage or entry into civil partnership 54 1 Subsection (2) applies if an individual— a gets married or enters into a civil partnership in a tax year, and b claims a…
Section 55 — Sections 45 to 53: supplementary
Sections 45 to 53: supplementary 55 1 An individual is not entitled to more than one tax reduction under sections 45 to 48 for a tax year (regardless of whether the individual is a party to more than…
Section 55A — Tax reduction under Chapter
Tax reduction under Chapter 55A 1 This Chapter contains provisions about the entitlement of a spouse or civil partner to a tax reduction in a case where the other party to the marriage or civil…
Section 55B — Tax reduction: entitlement
Tax reduction: entitlement 55B 1 An individual is entitled to a tax reduction for a tax year of the appropriate percentage of the transferable amount if the conditions in subsection (2) are met. 2…
Section 55C — Election to reduce personal allowance
Election to reduce personal allowance 55C 1 An individual may make an election for the purposes of section 55B if— a the individual is married to, or in a civil partnership with, the same person…
Section 55D — Procedure for elections under section 55C
Procedure for elections under section 55C 55D 1 An election under section 55C is to be made not more than 4 years after the end of the tax year to which it relates. 2 If the conditions in paragraphs…
Section 55E — Limitation on number of tax reductions and elections
Limitation on number of tax reductions and elections 55E 1 An individual is not entitled to more than one tax reduction under section 55B for a tax year (regardless of whether the individual is a…
Section 56 — Residence etc of claimants
Residence etc of claimants 56 1 This section applies in relation to an individual who claims— a an allowance under Chapter 2 (personal allowance and blind person's allowance) for a tax year, or b a…
Section 57 — Indexation of allowances
Indexation of allowances 57 1 This section provides for increases in the amounts specified in— a section 35(1) (personal allowance) , b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .…
Section 57A — Personal allowance linked to national minimum wage
Personal allowance linked to national minimum wage 57A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 58 — Meaning of “adjusted net income”
Meaning of “adjusted net income” 58 1 For the purposes of Chapters 2 and 3, an individual's adjusted net income for a tax year is calculated as follows. Step 1 Take the amount of the individual's net…
Section 59 — Overview of Part
Overview of Part 59 1 This Part provides for income tax relief for— a losses in a trade, profession or vocation (and certain post-cessation payments and events) (see Chapters 2 and 3), b losses in a…
Section 60 — Overview of Chapter
Overview of Chapter 60 1 This Chapter— a provides for trade loss relief against general income (see sections 64 to 70), b provides for early trade losses relief (see sections 72 to 74), c contains…
Section 61 — Non-partners: losses of a tax year
Non-partners: losses of a tax year 61 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 62 — Partners: losses of a tax year etc
Partners: losses of a tax year etc 62 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 63 — Prohibition against double counting
Prohibition against double counting 63 If relief is given under any provision of this Chapter for a loss or part of a loss, relief is not to be given for— a the same loss, or b the same part of the…
Section 64 — Deduction of losses from general income
Deduction of losses from general income 64 1 A person may make a claim for trade loss relief against general income if the person— a carries on a trade in a tax year, and b makes a loss in the trade…
Section 65 — How relief works
How relief works 65 1 This subsection explains how the deductions are to be made. The amount of the loss to be deducted at any step is limited in accordance with sections 24A and 25(4) and (5) . Step…
Section 66 — Restriction on relief unless trade is commercial
Restriction on relief unless trade is commercial 66 1 Trade loss relief against general income for a loss made in a trade in a tax year is not available unless the trade is commercial. 2 The trade is…
Section 67 — Restriction on relief in case of farming or market gardening
Restriction on relief in case of farming or market gardening 67 1 This section applies if a loss is made in a trade of farming or market gardening in a tax year (“the current tax year”). 2 Trade loss…
Section 68 — Reasonable expectation of profit
Reasonable expectation of profit 68 1 This section explains how the farming or market gardening activities (“the activities”) meet the reasonable expectation of profit test for the purposes of…
Section 69 — Whether trade is the same trade
Whether trade is the same trade 69 1 This section applies for the purposes of sections 67 and 68. 2 If there is a change in the persons carrying on a trade which involves all of the persons carrying…
Section 70 — Determining losses in previous tax years
Determining losses in previous tax years 70 1 This section applies for the purposes of sections 67(2) and 68(5) in determining whether a loss, calculated without regard to capital allowances, is made…
Section 71 — Treating trade losses as CGT losses
Treating trade losses as CGT losses 71 A person who cannot deduct all of a loss under a claim for trade loss relief against general income may be able to treat the unused part as an allowable loss…