Income Tax Act 2007 section 1026

Meaning of "non-qualifying income" for the purposes of section 1025

Section 1026 defines the types of income that count as "non-qualifying income" when calculating a person's modified net income under section 1025.

• Distributions received by non-UK residents on which income tax is treated as already paid are non-qualifying income.
• Gains from life insurance contracts (for individuals or trustees) where income tax is treated as paid are non-qualifying income.
• Income arising to personal representatives of an estate in administration that corresponds to the other categories of non-qualifying income is also non-qualifying.
• Income from settlor-interested settlements on which income tax is treated as already paid is non-qualifying income.