Income Tax (Trading and Other Income) Act 2005 section 883

Commencement and transitional provisions etc.

Section 883 sets out when the Income Tax (Trading and Other Income) Act 2005 comes into force and provides for transitional arrangements to manage the changeover from the old legislation to the new.

• The Act takes effect from 6 April 2005, applying for income tax from the 2005–06 tax year onwards and for corporation tax for accounting periods ending after 5 April 2005
• Certain administrative and interpretive provisions — including regulation-making powers, definitions, the general index, and the short title — came into force immediately when the Act received Royal Assent, rather than waiting until 6 April 2005
• Schedule 2 contains transitional provisions and savings to ensure a smooth changeover, preserving the effect of actions taken or rights established under the previous legislation
• The Treasury has a general power to make further transitional or saving orders as it considers appropriate in connection with the Act coming into force