Related Commentary  Related HMRC Manuals

Prospective amendments

In the heading the words “and interest” substituted for the words “, interest and VAT surcharges” by FA 2021, s. 118 and Sch. 27, para. 35(a), with effect from a day to be appointed under FA 2021, s. 118(2).


869(1)  This section applies for the purpose of calculating profits or other income charged to income tax.

869(2)  For this purpose “profits or other income”  does not include the profits of–

(a)a trade, profession, or vocation, or

(b)a property business,

but see subsection (6).

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