Income Tax (Trading and Other Income) Act 2005 section 783AG

Full relief: miscellaneous income

Section 783AG provides that where an individual qualifies for full relief for a tax year and their relevant income includes miscellaneous income, that miscellaneous income (net of associated expenses) is treated as nil.

• This section applies where an individual qualifies for full relief for a given tax year and their relevant income includes miscellaneous income.
• Miscellaneous income arising in the tax year, after deducting any expenses associated with that income, is treated as nil.
• The effect is that the individual has no taxable miscellaneous income for that year, providing complete relief from tax on that category of income.
• This provision works alongside other full relief sections to ensure that all components of relevant income are appropriately relieved.