Income Tax (Trading and Other Income) Act 2005 section 226

Professions and vocations

Section 226 confirms that all the rules in this chapter apply equally to professions and vocations as they do to trades.

  • All provisions in this chapter that apply to trades also apply to professions and vocations
  • This is a blanket application, removing the need to state this separately for each rule
  • The section is a drafting convenience to avoid repetitive references throughout the chapter
  • No distinction is made between the treatment of trades, professions and vocations under this chapter

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