Income Tax (Trading and Other Income) Act 2005 section 683

Charge to tax on annual payments not otherwise charged

Section 683 imposes an income tax charge on annual payments that are not already taxed under any other provision, while setting out the exemptions that may apply.

• Income tax is charged on annual payments that are not already subject to tax under any other legislative provision
• Payments that are specifically exempt from income tax under other provisions are not caught by this charge
• The frequency with which payments are actually made does not affect whether they qualify as annual payments
• A range of specific exemptions exists, covering areas such as certain individual payments, personal injury damages, compensation awards, trust payments for injured persons, health and employment insurance payments, payments to adopters, and scholarship income