- Part 3 of the Income Tax (Trading and Other Income) Act 2005
The statutory provision under which individuals are subject to income tax in the UK in respect of profits from property. Part 3 of the Income Tax (Trading and Other Income) Act 2005 came into force on 6 April 2005 and partially replaces Schedule A of the Income and Corporation Taxes Act 1988.For further information, see the HM Revenue & Customs website.Related linksSchedule A
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.