Income Tax (Trading and Other Income) Act 2005 section 570

Charge to tax under Chapter 13

Section 570 established the charge to tax under Chapter 13, but this provision has been abolished for transfers taking place on or after 22 April 2009.

• Section 570 was part of Chapter 13 (sections 570–573) of ITTOIA 2005, which set out a specific charge to income tax
• The entire chapter, including section 570, was removed from the legislation by the Finance Act 2009
• The repeal took effect in relation to transfers occurring on or after 22 April 2009
• Any transfers that took place before 22 April 2009 would still have been subject to the rules as they stood at that time