Income Tax (Trading and Other Income) Act 2005 section 106A

Professions and vocations

Section 106A confirms that the rules in this chapter apply not only to trades but equally to professions and vocations.

  • The provisions of this chapter are not limited to trades alone
  • Professions (such as accountancy, law or medicine) are treated in the same way as trades
  • Vocations (such as writing or artistic pursuits) are also covered on the same basis
  • No distinction is made between trades, professions and vocations for the purposes of this chapter

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