Income Tax (Trading and Other Income) Act 2005 section 690

Overview of Part 6

Section 690 provides a roadmap to Part 6 of the Act, which sets out a range of exemptions from income tax on specific types of income.

• Part 6 exempts certain categories of income from income tax, including national savings income, individual investment plan income, SAYE interest, venture capital trust dividends, FOTRA securities income, purchased life annuity payments, and other annual payments and income
• Where an exemption applies, the exempt amount is generally ignored for all other income tax purposes, unless a specific provision states otherwise
• Other exemptions found outside this Act, such as those relating to particular categories of person, may also be relevant to income tax charges arising under this Act
• Conversely, the exemptions contained in Part 6 may themselves apply to income tax charges that arise under other legislation beyond this Act