Section 11CC Income charged at the property basic rate: non-individualsF1 F2

(1)

Income tax is charged at the property basic rate on the income of persons other than individuals which—

(a)

is property income,

(b)

would otherwise be charged at the default basic rate, and

(c)

is not relevant foreign income charged in accordance with section 832 of ITTOIA 2005 (relevant foreign income charged on the remittance basis).

(2)

This is subject to—

Chapters 3 to 5 of Part 9 (which provide for some income of trustees to be charged at special trust rates), and
any other provisions of the Income Tax Acts (apart from section 11) which provide for income of persons other than individuals to be charged at different rates of income tax in some circumstances.

Annotations

F1: Ss. 11C, 11D inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(8)(b)(24); S.I. 2016/1161, regs. 2, 3
F2: Ss. 11CB, 11CC inserted (for the tax year 2027-28 and subsequent tax years) by Finance Act 2026 (c. 11), s. 6(8), Sch. 1 para. 10