Income Tax (Trading and Other Income) Act 2005 section 608B

Income charged under section 608A

Section 608B establishes what income is subject to the tax charge on UK-derived amounts relating to intangible property held offshore.

• The charge applies to UK-derived amounts arising in connection with intangible property held offshore.
• The taxable amount is the total of all UK-derived amounts arising in the tax year.
• All qualifying amounts received during the year are aggregated to determine the total charge.
• This section works alongside section 608A, which creates the underlying charge to tax.