Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section 809VE — Commercial trades
Commercial trades 809VE 1 Section 809VD is to be read in accordance with this section. 2 A reference to a “trade” also includes— a anything that is treated for corporation tax purposes as if it were…
Section 809YE — Exception to section 809Y: gifts to the nation
Exception to section 809Y: gifts to the nation 809YE 1 Section 809Y(1) does not apply to property if— a it ceases to be exempt property in the second case mentioned in that section, and b by no later…
Section 809AZF — Partnership shares
Partnership shares 809AZF 1 For the purposes of this Chapter a transfer of a right to relevant receipts consisting of the reduction in a transferor's share in the profits or losses of a partnership…
Section 809BZF — Type 2 finance arrangement defined
Type 2 finance arrangement defined 809BZF 1 For the purposes of this Chapter an arrangement is a type 2 finance arrangement if conditions A and B are met. 2 Condition A is that— a under the…
Section 809EZF — Disguised investment management fees: anti-avoidance
Disguised investment management fees: anti-avoidance 809EZF In determining whether section 809EZA applies in relation to an individual, no regard is to be had to any arrangements the main purpose, or…
Section 809F — Effect on what is chargeable
Effect on what is chargeable 809F 1 This section applies if section 809B, 809D or 809E applies to an individual for a tax year. 2 The individual's relevant foreign earnings for that year are charged…
Section 809FZF — Unwanted short-term investments
Unwanted short-term investments 809FZF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 809VF — Condition B
Condition B 809VF 1 Condition B is that no relevant person has (directly or indirectly) obtained or become entitled to obtain any related benefit, and no relevant person expects to obtain any such…
Section 809YF — Exception to section 809Y: compensation taken offshore or invested
Exception to section 809Y: compensation taken offshore or invested 809YF 1 Section 809Y(1) does not apply to property if— a it ceases to be exempt property because a compensation payment in respect…
Section 809ZF — Further interpretation of section 809ZA etc
Further interpretation of section 809ZA etc 809ZF 1 This section applies for the purposes of sections 809ZA to 809ZE and this section. 2 “ Lease ” includes— a a licence, and b the letting of a ship…
Section 809AZG — Interpretation
Interpretation 809AZG 1 For the purposes of this Chapter— a the grant or surrender of a lease of land is to be regarded as a transfer of the land, and b the disposal of an interest in an oil licence…
Section 809BZG — Relevant change in relation to partnership
Relevant change in relation to partnership 809BZG 1 For the purposes of this Chapter there is a relevant change in relation to a partnership if condition A or condition B is met. 2 Condition A is…
Section 809EZG — Disguised investment management fees: avoidance of double taxation
Disguised investment management fees: avoidance of double taxation 809EZG 1 This section applies where— a income tax is charged on an individual by virtue of section 809EZA in respect of a disguised…
Section 809FZG — Derivatives
Derivatives 809FZG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 809G — Claim for remittance basis: effect on allowances etc
Claim for remittance basis: effect on allowances etc 809G 1 This section applies if section 809B (claim for remittance basis to apply) applies to an individual for a tax year. 2 For that year, the…
Section 809VG — Income or gains treated as remitted following certain events
Income or gains treated as remitted following certain events 809VG 1 Subsection (2) applies if— a income or chargeable gains are treated under section 809VA(2) as not remitted to the United Kingdom…
Section 809ZG — Tax relief schemes and arrangements
Tax relief schemes and arrangements 809ZG 1 Relief is not to be given under any provision of the Income Tax Acts to a person in respect of a payment of interest if a tax relief scheme has been…
Section 809BZH — Certain tax consequences not to have effect
Certain tax consequences not to have effect 809BZH 1 This section applies if— a there is a type 2 finance arrangement, and b any relevant change in relation to the partnership would have the relevant…
Section 809EZH — Powers to amend Chapter
Powers to amend Chapter 809EZH 1 The Treasury may by regulations amend this Chapter— a so as to change the definition of “ investment scheme ” for the purposes of this Chapter; b so as to change the…
Section 809FZH — Hedging: exchange gains and losses
Hedging: exchange gains and losses 809FZH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 809H — Claim for remittance basis by long-term UK resident: charge
Claim for remittance basis by long-term UK resident: charge 809H 1 This section applies if— a section 809B (claim for remittance basis to apply) applies to an individual for a tax year (“the relevant…
Section 809VH — Meaning of “potentially chargeable event”
Meaning of “potentially chargeable event” 809VH 1 For the purposes of section 809VG, a “potentially chargeable event” occurs if— a the target company is for the first time neither an eligible trading…
Section 809ZH — Overview of Chapter
Overview of Chapter 809ZH 1 This Chapter makes provision for removing entitlement to income tax reliefs, and counteracting income tax advantages, where a person makes a relievable charity donation…
Section 809BZI — Deemed interest
Deemed interest 809BZI 1 This section applies if— a there is a type 2 finance arrangement, b the transferor is a person within the charge to income tax, and c in accordance with generally accepted…
Section 809FZI — Hedging: interest rates
Hedging: interest rates 809FZI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 809I — Remittance basis charge: income and gains treated as remitted
Remittance basis charge: income and gains treated as remitted 809I 1 This section applies if— a any of an individual's nominated income and gains is remitted to the United Kingdom in a tax year, ...…
Section 809VI — The appropriate mitigation steps
The appropriate mitigation steps 809VI 1 If the potentially chargeable event is a disposal of all or part of the holding, the appropriate mitigation steps are regarded as taken if the whole of the…
Section 809ZI — Relievable charity donations
Relievable charity donations 809ZI 1 In this Chapter “ relievable charity donation ” means a gift or other disposal which— a is made by a person to a charity, and b is eligible for tax relief. 2 A…
Section 809BZJ — Type 3 finance arrangement defined
Type 3 finance arrangement defined 809BZJ 1 For the purposes of this Chapter an arrangement is a type 3 finance arrangement if conditions A and B are met. 2 Condition A is that— a a partnership holds…
Section 809FZJ — Significant interests
Significant interests 809FZJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 809J — Section 809I: order of remittances
Section 809I: order of remittances 809J 1 If section 809I applies, the following steps are to be taken for the purpose of determining the income or gains treated in a tax year (“the relevant tax…
Section 809VJ — The grace period allowed for the appropriate mitigation steps
The grace period allowed for the appropriate mitigation steps 809VJ 1 The grace period allowed for the step mentioned in section 809VI(2)(a) is the period of 90 days beginning— a if the potentially…
Section 809ZJ — Tainted donations
Tainted donations 809ZJ 1 For the purposes of this Chapter, a relievable charity donation a is a tainted donation if (and only if) Conditions A, B and C are met , and b becomes a tainted donation at…
Section 809BZK — Certain tax consequences not to have effect
Certain tax consequences not to have effect 809BZK 1 This section applies if— a there is a type 3 finance arrangement, and b any relevant change in relation to the partnership would have the relevant…
Section 809FZK — Venture capital funds
Venture capital funds 809FZK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 809K — Sections 809L to 809Z6: introduction
Sections 809L to 809Z6: introduction 809K 1 Sections 809L to 809Z6 apply for the purposes of— a this Chapter, b sections 22 and 26 of ITEPA 2003 (relevant foreign earnings charged on remittance…
Section 809VK — Retention of funds to meet CGT liabilities
Retention of funds to meet CGT liabilities 809VK 1 This section applies if— a there is a disposal of all or part of the holding, b the disposal counts as a potentially chargeable event or is part of…
Section 809ZK — Circumstances in which financial advantage deemed to be obtained
Circumstances in which financial advantage deemed to be obtained 809ZK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 809BZL — Deemed interest
Deemed interest 809BZL 1 This section applies if— a there is a type 3 finance arrangement, b a relevant member is a person within the charge to income tax, and c in accordance with generally accepted…
Section 809FZL — Significant equity stake funds
Significant equity stake funds 809FZL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 809L — Meaning of “remitted to the United Kingdom”
Meaning of “remitted to the United Kingdom” 809L 1 An individual's income is, or chargeable gains are, “remitted to the United Kingdom” if— a conditions A and B are met, b condition C is met, or c…
Section 809VL — Effect of taking appropriate mitigation steps within grace period
Effect of taking appropriate mitigation steps within grace period 809VL 1 This section explains the effect for the purposes of this Chapter in cases where section 809VG(2) does not apply because the…
Section 809ZL — Certain financial assistance to be ignored
Certain financial assistance to be ignored 809ZL 1 When determining whether a relievable charity donation is a tainted donation, financial assistance within subsection (2A) , (3), (4) or (5) is to be…
Section 809BZM — Exceptions: preliminary
Exceptions: preliminary 809BZM 1 Sections 809BZN to 809BZP make provision for finance arrangement codes not to apply in certain circumstances. 2 For the purposes of those sections each of the…
Section 809FZM — Controlling equity stake funds
Controlling equity stake funds 809FZM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 809M — Meaning of “relevant person”
Meaning of “relevant person” 809M 1 This section applies for the purposes of this Chapter . 2 A “ relevant person ” is— a the individual, b the individual's husband or wife, c the individual's civil…
Section 809VM — Cases involving tax deposits
Cases involving tax deposits 809VM 1 This section applies in cases where— a section 809VG(2) did not apply because the appropriate mitigation steps were taken within the grace period allowed for each…
Section 809ZM — Removal of income tax relief where donation becomes tainted in same tax year
Removal of income tax relief where donation becomes tainted in same tax year 809ZM 1 This section applies where— a a person makes a relievable charity donation, and b the donation becomes a tainted…
Section 809BZN — Exceptions
Exceptions 809BZN 1 A finance arrangement code does not apply if the whole of the advance under the arrangement— a is charged to tax on a relevant person as an amount of income, b is brought into…
Section 809FZN — Real estate funds
Real estate funds 809FZN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .